May 7 (Reuters) - Futures for Canada's main stock index edged higher on Thursday, supported by rising expectations of a near-term peace deal between the United States and Iran.
June futures on the S&P/TSX index were up 0.1% at 6:37 a.m. ET (1037 GMT).
o The United States and Iran are edging toward a limited, temporary agreement to halt their war, sources and officials said, with the emerging plan centering on a short-term memorandum rather than a comprehensive peace deal.
o Oil prices fell around 2% to below $100 a barrel as the peace deal could bring a gradual reopening of the Strait of Hormuz. [O/R]
o Spot gold and silver rose 0.9% and 3.9% each as concerns over inflation and prolonged high interest rates eased. [GOL/]
o The Toronto Stock Exchange's S&P/TSX Composite Index rose to a two-week high on Wednesday as optimism grew over a possible end to the war in the Middle East, with gains in financials and metal mining shares offsetting declines in energy.
o On the earnings front, oil and gas producer Canadian Natural Resources surpassed expectations for first-quarter profit on the back of higher output.
o Natural gas solutions firm Enerflex's first-quarter revenue rose 6% on engineered systems strength, while packaging and tissue maker Cascades' quarterly sales slightly missed analysts' expectations.
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(Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Vijay Kishore)
