June 2 (Reuters) - Futures tracking Canada's blue-chip stocks edged higher on Tuesday after U.S. President Donald Trump said talks with Iran were ongoing, easing concerns about inflation and tighter monetary policy.
June futures on the S&P/TSX index were up 0.3% at 6:43 a.m. ET (1043 GMT).
Trump's comments on Monday supported hopes for an end to the war in the Middle East and the reopening of the Strait of Hormuz. Lebanon's announcement of a partial ceasefire between Hezbollah and Israel on Monday, following a brief escalation in hostilities, also lifted risk sentiment.
Oil prices fell more than 1% on Tuesday following the news, paring sharp gains from the previous session.
Spot gold and silver rose 0.9% and 1.9%, respectively, as weaker oil prices eased concerns about higher inflation and elevated interest rates.
The benchmark TSX (.GSPTSE), clocked a second straight monthly gain in May, with the index hovering near its all-time highs despite Monday's losses.
The Bank of Canada's senior deputy governor, Carolyn Rogers, said while two quarters of annualized contraction in GDP did meet one definition of a recession, the April advance estimate showed the economy most likely rebounded.
Among others, Barrick Mining (ABX.TO), one of the world's leading gold miners, is weighing a possible London listing for its African business, with a potential all-share transaction with UK-listed Endeavour Mining (EDV.L), seen as one option under consideration, two sources familiar with the matter told Reuters.
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Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Shailesh Kuber
