May 11 (Reuters) - Futures for Canada's main stock index edged lower on Monday as U.S. President Donald Trump's rejection of Iran's response to a peace proposal left global markets worrying that the 10-week-old conflict will drag on.
June futures on the S&P/TSX index were down 0.2% at 6:08 a.m. ET (1008 GMT).
o Days after the United States floated an offer in hopes of reopening negotiations, Iran released a response on Sunday that focused on ending the war on all fronts. Within hours, Trump dismissed Iran's proposal in a post on Truth Social, saying "I don't like it -- TOTALLY UNACCEPTABLE."
o Oil prices rallied on supply fears after the news, with the Strait of Hormuz remaining largely closed and global markets staying tight. [O/R]
o Spot gold fell 1.1% on elevated concerns that inflation could keep interest rates higher for longer. [GOL/]
o The Toronto Stock Exchange's S&P/TSX Composite Index rose to a near three-week high on Friday as investors cheered recent growth in corporate earnings and after weaker-than-expected domestic jobs data tempered for interest rate hikes.
o On the earnings front, building materials distributor Doman's first-quarter revenue missed analyst expectations on Friday because of weak plywood demand.
o Gold miner Barrick Mining on Monday beat Wall Street estimates for first-quarter profit as higher gold prices offset lower production.
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(Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Joyjeet Das)
