TSX Slips Amid US-Iran Standoff

2026-04-24 13:53 By Isabela Couto 1 min. read

The S&P/TSX Composite Index edged below 34,000 on Friday as investors monitored a standoff between the US and Iran, which kept oil prices elevated amid uncertainty over the fragile ceasefire.

Tehran responded to the US blockade by demonstrating its control over the Strait of Hormuz, and with few signs the strait will reopen soon.

Brent prices have risen, threatening to exacerbate inflation fears and global growth concerns while pressuring major banks and the broader index.

Canadian producer prices increased 2.4% month-on-month in March, driven by spikes in energy, petroleum products, and chemicals costs stemming from the Iran conflict, raising the prospect of central bank rate hikes.

Bank of Montreal and Royal Bank of Canada both fell 0.5%, while energy producers declined on lower crude prices, with Canadian Natural down over 1%.

Gold quotes edged higher, providing some support to miners, as Barrick gained nearly 1% and Agnico Eagle inched up.



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TSX Slips Amid US-Iran Standoff
The S&P/TSX Composite Index edged below 34,000 on Friday as investors monitored a standoff between the US and Iran, which kept oil prices elevated amid uncertainty over the fragile ceasefire. Tehran responded to the US blockade by demonstrating its control over the Strait of Hormuz, and with few signs the strait will reopen soon. Brent prices have risen, threatening to exacerbate inflation fears and global growth concerns while pressuring major banks and the broader index. Canadian producer prices increased 2.4% month-on-month in March, driven by spikes in energy, petroleum products, and chemicals costs stemming from the Iran conflict, raising the prospect of central bank rate hikes. Bank of Montreal and Royal Bank of Canada both fell 0.5%, while energy producers declined on lower crude prices, with Canadian Natural down over 1%. Gold quotes edged higher, providing some support to miners, as Barrick gained nearly 1% and Agnico Eagle inched up.
2026-04-24
TSX Futures Flat Amid US-Iran Standoff
Futures tracking the S&P/TSX Composite Index traded flat on Friday as investors monitored a standoff between the US and Iran, which has kept oil prices elevated amid uncertainty over the fragile ceasefire. Tehran responded to the US blockade by demonstrating its control over the Strait of Hormuz, and with few signs the strait will reopen soon, Brent prices have risen, threatening to exacerbate inflation fears and global growth concerns while pressuring major banks and the broader index. Also, Canadian producer prices increased 2.4% month-on-month in March, driven by spikes in energy, petroleum products, and chemicals costs stemming from the Iran conflict, raising the prospect of central bank rate hikes that could weigh on equities. Meanwhile, retail stocks are set to open higher as March sales estimates point to a third consecutive month of gains, while tech stocks will find support following positive US Q1 2026 earnings results.
2026-04-24
TSX Slips as Tech and Gold Stocks Decline
The S&P/TSX Composite Index fell 0.1% to close at 33,913 on Thursday, weighed down by declines in mining and technology stocks. Gold prices retreated on renewed inflation fears and concerns over prolonged high interest rates, as oil prices rose amid fresh Middle East tensions. Agnico Eagle lost 2.2%, Barrick Gold shed 1.1%, and Wheaton Precious Metals dropped 2%. Technology stocks also declined, with Shopify and Constellation Software both falling 5.7%, and Open Text down 4.9%, as weak first-quarter results from US software firms dampened sentiment. On the upside, Waste Connections surged 8.3% after beating first-quarter revenue estimates. Miner Teck Resources rose 2.9% after exceeding first-quarter profit forecasts, aided by higher copper prices and record sales.
2026-04-23