TSX Rises on Middle East Diplomacy Hopes

2026-07-21 13:55 By Isabela Couto 1 min. read

The S&P/TSX Composite Index edged higher to trade above 35,000 on Tuesday, supported by hopes for a diplomatic resolution to Middle East tensions.

Iran is reportedly considering a proposal from mediators for a 10-day ceasefire aimed at paving the way for an agreement to end the war.

Gold prices rose on the news, supporting mining shares.

Agnico Eagle gained more than 3%, Barrick rose 2%, and WPM added over 2.5%.

Oil prices remained elevated, lifting energy stocks.

Canadian Natural, Cenovus, and Imperial Oil gained more than 1%, while Suncor advanced over 1.5%.

In contrast, financial stocks traded little changed amid energy-driven inflation concerns.

Meanwhile, US President Trump vowed to impose a 50% tariff on a broad range of Canadian imports.

However, key Canadian exports such as energy, potash, and critical minerals are exempt, while autos and steel are excluded because they are already subject to separate sector-specific tariffs.



News Stream
TSX Rises on Middle East Diplomacy Hopes
The S&P/TSX Composite Index edged higher to trade above 35,000 on Tuesday, supported by hopes for a diplomatic resolution to Middle East tensions. Iran is reportedly considering a proposal from mediators for a 10-day ceasefire aimed at paving the way for an agreement to end the war. Gold prices rose on the news, supporting mining shares. Agnico Eagle gained more than 3%, Barrick rose 2%, and WPM added over 2.5%. Oil prices remained elevated, lifting energy stocks. Canadian Natural, Cenovus, and Imperial Oil gained more than 1%, while Suncor advanced over 1.5%. In contrast, financial stocks traded little changed amid energy-driven inflation concerns. Meanwhile, US President Trump vowed to impose a 50% tariff on a broad range of Canadian imports. However, key Canadian exports such as energy, potash, and critical minerals are exempt, while autos and steel are excluded because they are already subject to separate sector-specific tariffs.
2026-07-21
TSX Futures Rise on US-Iran Diplomacy Hopes
Futures tracking the S&P/TSX Composite Index edged higher on Tuesday, supported by hopes for a diplomatic resolution to Middle East tensions. Iran is reportedly considering a proposal from mediators for a 10-day ceasefire aimed at paving the way for a lasting agreement to end the war. Gold prices rose on the news, supporting mining shares. Meanwhile, US President Trump imposed a sweeping 50% tariff on a broad range of Canadian imports. However, key Canadian exports such as energy, potash, and critical minerals are exempt, while autos and steel are also excluded because they are already subject to separate sector-specific tariffs. Separately, Britain's new government is expected to invite Canada to join the delayed GCAP fighter-jet project as European allies seek to reduce their reliance on US defence equipment and technology.
2026-07-21
TSX Falls as Financials Post Losses
The S&P/TSX Composite Index fell 0.8% to close at 34,960 on Monday, weighed down by financial stocks. Major banks were among the biggest decliners as escalating US-Iran tensions pushed oil prices higher, lifting bond yields despite Canada's softer-than-expected June inflation report. RBC lost 2.1%, TD Bank shed 2.3%, BMO fell 1.9%, CIBC retreated 2.6%, and Scotiabank closed 2.3% lower. In contrast, Shopify (+1.1%) and Celestica (+2.4%) advanced, tracking the rebound in US technology shares. Energy stocks closed higher on rising oil prices, with Canadian Natural up 0.7% and Cenovus adding 1.5%. On the data front, Canada's annual inflation rate eased to 2.8% in June 2026 from 3.2% in May, slightly below forecasts of 2.9%.
2026-07-20