TSX Rises on Middle East Peace Hopes

The S&P/TSX Composite Index rose 0.7% to close at 34,409 on Thursday as lower oil prices eased concerns over a war-driven inflation shock. Crude prices retreated amid signs of a possible diplomatic breakthrough in the Middle East conflict. Reports indicated that the US and Iran had reached an agreement through Pakistani mediation, while US Secretary of State Marco Rubio said there were “some good signs” that a deal to end the war in Iran could be in sight. Financial stocks advanced as easing energy pressures supported sentiment, with Royal Bank of Canada up 1.3% and TD Bank gaining 1.8%. In tech, Constellation Software added 2.6% following strong quarterly results from NVIDIA, which reported profit and revenue above expectations. Meanwhile, Shopify was little changed as investors continued to assess whether the company’s shift toward AI will drive growth or create new challenges.

TSX increased to 34337.00 Index Points, the highest since April 2026. Over the past 4 weeks, Canada Stock Market Index (TSX) gained 1.05%, and in the last 12 months, it increased 32.71%.

The S&P/TSX Composite Index edged lower to trade below 34,500 on Thursday as investors assessed renewed tensions between the US and Iran alongside earnings from AI chip giant Nvidia. Iranian leader Mojtaba Khamenei reportedly ordered that the country’s near weapons-grade uranium should not be shipped abroad, despite US President Donald Trump having assured Israeli allies that Iran’s enriched uranium stockpile would leave the country under any peace agreement. Oil prices rebounded, reviving concerns that a war-driven energy shock could lift inflation and keep interest rates elevated. Major banks traded mixed, with Royal Bank of Canada edging lower while TD Bank ticked up. Lower gold prices pressured mining shares, with Agnico Eagle down nearly 1% and Wheaton Precious Metals losing more than 0.5%. Nvidia's projections failed to impress analysts, pressuring Canadian tech stocks with Shopify dropping over 2%.