Futures linked to Canada’s main stock index were slightly up on Wednesday, helped by higher oil and gold prices, even as investors weighed signals that a Middle East peace deal could be struck soon.
June futures on the S&P/TSX index were up 0.06% at 6:18 a.m. ET (1118 GMT).
A key Pakistani mediator in Tehran and the administration of U.S. President Donald Trump indicated that progress has been made towards a peace deal that would open the vital Strait of Hormuz.
Israel's cabinet also met on Wednesday to discuss a possible ceasefire in neighboring Lebanon.
The TSX had closed Wednesday at its highest since March 2 on optimism surrounding the negotiations.
Oil prices , were up more than 1.5%, though still below $100 a barrel, indicating some skepticism over when the U.S.-Iran talks will result in a deal and ease shipping disruptions in the Gulf region.
European buyers, including Germany’s Uniper, are exploring long‑term LNG purchases from Canada’s Pacific coast that could be shipped through the Panama Canal as part of a long-term strategy to diversify supply, an effort made more urgent in the wake of the Iran war, two sources familiar with the matter told Reuters.
Spot gold and silver were also up 0.3% and 0.4%, respectively.
Meanwhile, investors are tracking corporate earnings in the U.S. and Canada to gauge how companies are tackling headwinds from the Iran war.
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Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Jonathan Ananda
