Nov 3 (Reuters) - Futures tracking Canada's blue-chip stocks fell on Tuesday as oil prices rebounded on dimming the Middle East peace-deal hopes, while investors also kept an eye on the US midterm elections.
December futures on the S&P/TSX index were down 0.4% at 5:41 a.m. ET (1041 GMT).
Oil rose nearly 1% as hopes for a peace deal in the Middle East dimmed and a US strike on Iran's Qeshm Island fueled fears of escalation and supply disruptions
Spot gold eased 1.1% as rising oil prices stoked inflationary concerns, ahead of the US midterm elections later in the day
Voting begins in the US midterms later on Tuesday, with opinion polls favouring the Democrats to win the House, though the Senate remains too close to call
Canada's main stock index (.GSPTSE), rallied on Monday as a sharp drop in oil prices boosted investor sentiment, with industrial and metal mining shares leading broad-based gains
Investors will also parse remarks from Bank of Canada Governor Tiff Macklem before a House of Commons finance committee for clues on the economic outlook
Markets are pricing in nearly one 25-basis-point rate hike by the BoC before the year-end, according to data compiled by LSEG
Among company news, Topaz Energy (TPZ.TO), reported better-than-expected third-quarter adjusted profit, while Toromont Industries (TIH.TO), beat quarterly revenue estimates
Fairfax Financial Holdings' (FFH.TO), proposed $5.5 billion takeover of IDBI Bank (IDBI.NS), is facing opposition from employees and political parties over the lender's valuation and Indian government's stake-sale process
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Reporting by Anand Gopal in Bengaluru; Editing by Vijay Kishore
