TSX Flat Amid US-Iran Standoff

The S&P/TSX Composite Index closed near flat at 33,904 on Friday as investors monitored the US Iran standoff, which has kept oil prices elevated amid uncertainty over the fragile ceasefire. Tehran demonstrated control over the Strait of Hormuz with few signs of reopening soon. Brent remained high, 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 from the Iran conflict, raising the prospect of central bank rate hikes. Brookfield shed 0.6% and TD inched down, while Royal Bank of Canada and BMO edged up. Meanwhile, gold prices recovered but were on track for a weekly decline. WPM lost 1.8% and Franco-Nevada fell 1%, while Agnico Eagle gained 0.3% and Barrick added 2%.

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.

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.