May 25 (Reuters) - Futures for Canada's main stock index rose on Monday, helped by signs the United States and Iran are nearing a peace deal, which pressured oil prices and eased inflation concerns.
June futures on the S&P/TSX index were up 1.09% at 6:29 a.m. ET (1029 GMT).
U.S. President Donald Trump said on Saturday a peace deal had been “largely negotiated” that could reopen the Strait of Hormuz.
However, both parties played down hopes for an imminent breakthrough in their three-month-old war, keeping gains in check.
Spot gold and silver rose 1.3% and 3.5% respectively, helped by a weaker U.S. dollar and easing inflation concerns.
Canadian energy stocks are likely to be pressured as crude oil prices slid more than 5% to below $100 a barrel.
Investors also await quarterly results from major banks, including Royal Bank of Canada (RY.TO), Toronto-Dominion Bank (TD.TO), and Bank of Montreal (BMO.TO), among others, due later this week.
The Toronto Stock Exchange's S&P/TSX Composite Index (.GSPTSE), closed at a record high on Friday, surpassing its March 2 peak and underscoring how the index has recovered losses triggered by the war.
Global optimism around AI tech stocks has lifted Canadian tech shares, with the technology sector (.SPTTTK), rebounding after a pullback from its late-2025 highs as investors piled into high-flying technology shares.
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Reporting by Tharuniyaa Lakshmi in Bengaluru. Editing by Mark Potter
