* Trump's Iran comments spark risk-off moves

* Energy stocks climb as oil jumps

* Air Canada ( ACDVF ) hires new CEO, shares dip

By Sudeshna Ghoshal

July 8 (Reuters) - Canada's main stock index fell on

Wednesday as renewed U.S.-Iran tensions rattled investors and

drove oil prices higher, fueling inflation worries.

The Toronto Stock Exchange's S&P/TSX Composite index

shed 0.89% to 34,961.30 points at 9:50 a.m. ET.

* Oil prices hit a two-week high after U.S. President Donald

Trump said the memorandum of understanding with Iran to end the

conflict was "over", reviving concerns about potential

disruptions to global energy supplies.

* Brent crude futures gained 4.9% to $77.78 a

barrel, while U.S. West Texas Intermediate crude rose

4.6% to $73.73.

* Canada's energy sector rose 1.3%, helped by

gains in Athabasca Oil ( ATHOF ), Cenovus Energy and CES

Energy Solution.

* "We've said throughout that these ceasefires and truces

are quite fragile," said Brian Madden, chief investment officer

at First Avenue Investment Counsel.

* "Not surprisingly, oil prices are bouncing after having

pulled back in the last few months. So that's creating kind of a

risk-off impulse across all global equity markets, including

Canada."

* The materials subindex, which includes stocks of miners,

fell 2.7%, tracking gold lower, as a rise in energy prices

reignited fears of inflation and higher interest rates. Spot

gold fell 0.9%, while silver shed 2.6%.

* Miner Aris fell 4.8%,leading declines on the

TSX.

* Investor focus now turns to minutes of the U.S. Federal

Reserve's meeting, due at 2:00 p.m. ET, that is likely to offer

cues on the monetary policy outlook.

* In company news, Air Canada ( ACDVF ) shares dipped 2.6%

after it said Scandinavian airline SAS' top boss, Anko Van der

Werff, would succeed Michael Rousseau as the CEO, ending months

of leadership speculation.

* Ivanhoe Mines ( IVPAF ) edged up 1.3% after the company

said copper production at its flagship Kamoa-Kakula complex in

the Democratic Republic of Congo is set to rise in the second

half of 2026.

* Trilogy Metals ( TMQ ) dipped 1.6% after the company

reported a wider second-quarter loss.