Stocks in Toronto continued their upward journey Wednesday, as investors awaited an address on the progress of the war in Iran by U.S. President Donald Trump (about 9 p.m. EDT)
The TSX was in the green 189.91 points to close Wednesday at 32,957.95.
The Canadian dollar was up 0.11 cents at 72.04 cents U.S.
Among individual stocks, shares of goeasy Ltd fell 87 cents, or 2.3%, to $37.36, after it reported a quarterly adjusted loss, while those of Ivanhoe Mines slumped $1.38, or 11.6%, to $10.51, after the company cut output estimates for its Democratic Republic of Congo mine.
Gold proved king of the hill Wednesday, as Aya Gold grabbed $1.48, or 7%, to $22.70, while B2Gold triumphed 39 cents, or 6.2%, to $6.71.
In other mining concerns, Discovery Silver hiked 90 cents, or 10.1%, to $9.84, while Capstone Copper improved 82 cents, or 7.8%, to $11.31.
In the health-care field, Curaleaf shares pointed upward 11 cents, or 3.7%, to $3.11, while Chartwell Retirement Residences grabbed 95 cents, or 4.7%, to $21.07.
Trump told Reuters on Wednesday the U.S. would withdraw from Iran "pretty quickly" and conduct limited strikes only when needed. He is scheduled to deliver a national address at 9 p.m. EDT.
On the economic landscape, the Markit Canada PMI for March fell to 50.0 in March from 51.0 in the previous month signaling a stagnation of manufacturing sector performance and ending a two-month period of improvement.
Meanwhile, Finance Minister Francois-Philippe Champagne is set to travel to China this ?week in a visit aimed at strengthening ?strategic and economic ties.
ON BAYSTREET
The TSX Venture Exchange gained 16.71 points, or 1.7%, to 974.55.
All but two of the 12 TSX subgroups were higher to end Wednesday, headed by gold, strengthening 4%, while materials rumbled 3.1%, and health-care shares were haler 2.7%.
The two laggards were energy, reversing 4%, while telecoms retreated 0.3%.
ON WALLSTREET
Stocks rose on Wednesday, while oil prices declined to start the month, as hope grew that an end to the U.S.-Iran war was on the horizon.
The Dow Jones Industrials index came off its lows of the afternoon, but still captured 224.97 points to 46,566.48.
The S&P 500 index perked 46.88 points, to 6,575.40.
The NASDAQ hiked 250.32 points, or 1.2%, to 21,840.95
President Donald Trump said in a post on Truth Social Wednesday morning that Iran’s president has asked the U.S. for a ceasefire. However, the U.S. will consider the offer when the Strait of Hormuz is “open, free, and clear,” Trump added, writing that “until then, we are blasting Iran into oblivion or, as they say, back to the Stone Ages!!!”
This comes after the president told reporters at the White House late Tuesday that he expects the U.S. military forces will leave Iran in “two or three weeks.”
The moves came after an unconfirmed report said that Iranian President Masoud Pezeshkian was open to ending the war with guarantees.
He made similar remarks earlier this month, saying in an X post that the “only way to end this war ... is recognizing Iran’s legitimate rights, payment of reparations, and firm int’l guarantees against future aggression.”
Investors will get more clues on the path forward for the U.S.-Iran war Wednesday at 9 p.m. ET, with Trump set to deliver an address “to the nation to provide an important update.”
Shares in Nike tumbled 8% Tuesday after its North America revenue came in at $5.03 billion, while analysts surveyed by LSEG had expected $5.04 billion. The “Just Do It” company also offered a weak sales outlook for its current quarter.
Nike closed Wednesday off $8.19, or 15.5%, to $44.63.
Bank of America is trading at a discount, and investors would be wise to scoop up shares of the bank, according to HSBC Global Investment Research. The stock, which trades under the symbol BAC, gained 46 cents to $49.21.
Prices for the 10-year Treasury sagged, raising yields to 4.33% from Tuesday’s 4.32%. Treasury prices and yields move in opposite directions.
Oil prices toppled $2.18 to $99.20 U.S. a barrel.
Gold prices accelerated $110.80 to $4,758.40 U.S. an ounce.
