April 6 (Reuters) - Futures tracking Canada's main stock index inched up on Monday in thin trading as investors returned from Easter weekend to reports of a peace proposal received by the U.S. and Iran, raising hopes for an end to the Middle East conflict.
June futures on the S&P/TSX Composite Index SXFc1 were up 3.20 points, or 0.17%, at 05:42 a.m. ET (1042 GMT).
Iran and the United States have received a Pakistan-brokered proposal aimed at ending hostilities that could come into effect on Monday and reopen the Strait of Hormuz, a source aware of the matter told Reuters.
A senior Iranian official said Tehran would not reopen the Strait as part of a temporary ceasefire and would not accept deadlines as it reviews the proposal.
Oil prices slipped after sharp gains in the previous session, with U.S. West Texas Intermediate crude CLc1 down 1.9% after surging more than 11% on Thursday.
Spot gold XAU= was up 0.6%, while silver XAG= rose 0.2%.
Canada's benchmark stock index .GSPTSE closed at its highest since March 11 on Thursday, boosted by gains in energy shares .SPTTEN as oil prices surged.
Futures trading volumes were thin with major stock markets closed across much of Europe and the Asia-Pacific region, including Hong Kong, Australia and New Zealand.
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA