TSX Futures Edge Higher on US-Iran Peace Hopes

The S&P/TSX Composite Index rose 0.5% to trade above 34,000 on Thursday as investors weighed signals that a Middle East peace deal could soon be struck. A Pakistani mediator in Tehran and the US administration indicated progress toward a deal that would reopen the Strait of Hormuz. Oil prices continued rising amid supply uncertainty, though well below recent peaks. Energy stocks extended gains, with Suncor Energy and Canadian Natural both up nearly 1%. Meanwhile, major banks such as TD and BMO traded near flat as the oil rally cooled and energy-driven stagflation fears eased. In addition, European buyers, including Germany's Uniper, are exploring long-term LNG purchases from Canada's Pacific coast via the Panama Canal to diversify supply amid Iran tensions. Elewhere, gold prices rose, lifting Agnico Eagle and Franco-Nevada by about 0.5%.

Futures tracking the S&P/TSX Composite Index edged up on Thursday as investors weighed signals that a Middle East peace deal could be struck soon. A key Pakistani mediator in Tehran and the Trump administration indicated progress toward a deal that would reopen the Strait of Hormuz. Oil prices continued to rise amid supply uncertainty, though well below recent peaks, tempering gains for energy producers. In addition, European buyers, including Germany's Uniper, are exploring long-term LNG purchases from Canada's Pacific coast to be shipped through the Panama Canal, as part of a broader strategy to diversify supply made more urgent by the Iran war. Meanwhile, gold prices rose, supporting mining stocks.

The S&P/TSX Composite Index edged up to above 34,155 on Wednesday, hitting a fresh six-week high, as investors assessed US-Iran peace efforts. US President Trump indicated a second round of talks could resume soon in Pakistan. Oil prices rose slightly but stayed below recent peaks despite the US maintaining its blockade in the Strait of Hormuz. Also, Canada’s banking regulator said it is reviewing lenders’ exposure to private credit amid growing US market risks. Shopify (+7.99%) and Constellation Software (+4.71%) were among the top performers. Banks also traded higher, with BMO up over 0.5% and the Royal Bank of Canada advancing about 0.37%. Energy stocks were muted as the oil rally cooled, with Canadian Natural and Suncor Energy each edging lower. WPM was also down 0.44% and Agnico Eagle shedding nearly 8.5%.