April 8 (Reuters) - Futures tied to Canada's main stock index rebounded from eight-month lows on Tuesday after three straight sessions of heavy selling amid prospects for potential U.S. tariff negotiations, while rising bullion prices added to the positive sentiment.
The futures on the S&P/TSX index SXFcv1 were up 1.2% at 7.04 a.m. ET (1104 GMT).
U.S. President Donald Trump said on Monday he would talk to China, Japan and other countries over the tariffs, but was not looking at a pause on the duties.
This came after Trump threatened to impose an additional 50% tariff on China if Beijing does not withdraw its retaliatory tariffs on the United States. Beijing said on Tuesday it will never accept the "blackmail nature" of U.S. tariff threats.
Shares of Canadian gold miners could get support as bullion prices drifted higher, aided by the global trade tensions, and a softer dollar.
Oil prices steadied but hovered near four-year lows as a recovery in equity markets was outweighed by recession fears exacerbated by the U.S.-China trade war.
Base metal prices in China stabilised after the previous day's selloff, as market participants adopted a wait-and-see stance.
Looking ahead, investors will closely monitor upcoming economic releases, including Canada's Ivey Purchasing Managers Index $(PMI.UK)$ scheduled for 10:00 a.m. ET and U.S. consumer price data expected later in the week.
In corporate news, Barrick Gold's ABX.TO Reko Diq project in Pakistan aims to secure over $2 billion in financing from international lenders, its project director told Reuters.
Canada's main stock index fell on Monday to a seven-month low.
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(Reporting by Sanchayaita Roy in Bengaluru; Editing by Shailesh Kuber)
((Sanchayaita.Roy@thomsonreuters.com;))
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