June 4 (Reuters) - Canada stock futures dipped on Thursday, as oil prices eased after a ceasefire deal between Israel and Lebanon, while investors looked ahead to a key payrolls report on Friday.
June futures on the S&P/TSX index were down 0.1% at 6:23 a.m. ET (1023 GMT).
Israel and Lebanon agreed to a ceasefire, raising hopes for a de-escalation between Washington and Tehran, even as Iran struck Kuwait and U.S. forces hit near the Strait of Hormuz, underscoring continuing tensions in the months-long conflict.
Oil prices slipped about 1% following the news.
Spot gold and silver rose 0.7% and 0.9%, respectively, supported by a weaker dollar and easing concerns over inflation and interest rate hikes.
Focus will be on Friday's domestic and U.S. payrolls reports for clues on the health of the labor market.
Canada's benchmark S&P/TSX Composite Index (.GSPTSE), on Wednesday pulled back from record highs, with technology and metal-mining shares leading declines.
Meanwhile, Canada's services economy expanded at a modest pace in May as the Middle East conflict raised economic uncertainty and higher fuel prices contributed to the fastest increase in operating costs in four years, S&P Global's Canada services PMI data showed on Wednesday.
Canada will extend steel tariff-rate quotas and tariff relief on certain U.S. steel and aluminum imports by one year, Finance Minister François-Philippe Champagne said on Wednesday, citing the need to shield workers from global excess capacity and give the industry longer-term certainty.
Canadian power producer TransAlta Corp (TA.TO), said on Wednesday it will acquire two natural gas-fired peaking facilities near Denver, Colorado, from Blackstone (BX.N), for about $1 billion, strengthening its presence in the Western U.S. power market.
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Reporting by Tharuniyaa Lakshmi in Benglauru; Editing by Shailesh Kuber
