TSX futures fall as Middle East concerns grip markets

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6 hours ago

(Reuters) -Futures tied to Canada's main stock index fell on Tuesday as the Iran-Israel conflict entered its fifth day, with investors fleeing to safe-haven assets on fears that the tensions could spiral into broader regional unrest.
June futures on the S&P/TSX index were down 0.2% 06:49 a.m. ET (1049 GMT).
U.S. President Donald Trump said he wanted a "real end" to the nuclear problem with Iran after departing early from the Group of Seven summit in Canada, but clarified that it had "nothing to do" with working on a ceasefire.
The G7 has struggled to find unity over conflicts in Ukraine and the Middle East as Trump overtly expressed support for Russian President Vladimir Putin and has imposed tariffs on many of the allies present.
Oil prices climbed as analysts said uncertainty would keep prices elevated, despite no concrete signs of production losses from the conflict. [O/R]
Meanwhile, gold prices also edged higher as investors flocked to traditional safe-haven assets amid heightened uncertainty. [GOL/]
In a surprise move on Monday, Canadian Prime Minister Mark Carney said he had agreed with Trump that their two nations should try to wrap up a new economic and security deal within 30 days.
Toronto's S&P/TSX composite index rose on Monday and briefly touched an all-time high, as information and technology shares drove a broader rebound from the previous session's losses when the Middle East tensions first erupted.
Investors now await Wednesday's Federal Reserve interest rate decision. Markets widely expect the U.S. central bank to leave rates unchanged, and will focus on hints about potential rate cuts in coming months.
In corporate news, women's clothing retailer Groupe Dynamite beat analysts' estimates for first quarter profit and revenue.
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