TSX Jumps as Miners Lead Gains

The S&P/TSX Composite Index rose 1.2% to close at 35,369 on Tuesday, buoyed by mining stocks that tracked higher metal prices. Gold prices climbed on hopes of a diplomatic breakthrough between the US and Iran, boosting the sector. Agnico Eagle added 4.3%, Barrick gained 4.6%, WPM jumped 6.7%, and Franco-Nevada advanced 4.1%. 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. Still, oil prices remained elevated, lifting energy stocks. Canadian Natural added 2.3%, Suncor gained 2.5%, Imperial Oil rose 1.8%, and Cenovus advanced 2%. Elsewhere, Celestica soared 11.1% amid a rally in US technology stocks. Meanwhile, Prime Minister Mark Carney said he and US President Donald Trump agreed to accelerate trade talks ahead of a potential US move to impose 50% tariffs on a range of Canadian goods next month.

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.

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.