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CANADA STOCKS-TSX futures slip as oil rebounds; US midterms in focus

By Reuters News

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 O/R

  • Spot gold eased 1.1% as rising oil prices stoked inflationary concerns, ahead of the US midterm elections later in the day GOL/

  • 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

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report .TO

Canadian dollar and bonds report CAD/ CA/

Reuters global stocks poll for Canada ,

Canadian markets directory

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