Equities in Canada’s largest market sprinted to begin the last full week of September, as a meeting could be in the offing between the combatants in the U.S.-Iran war.
The TSX subsided 67.61 points to close Friday at 35,806.65. On the week, though, the index gained nearly 170 points, or 0.48%.
The Canadian dollar faded 0.11 cents to 71.34 cents U.S.
December futures progressed 0.7% Monday morning.
The commodity-heavy Canadian benchmark is up nearly ?13% so far this year, outperforming the U.S. benchmark index S&P 500's 11.8% gain.
Market participants await Bank of Canada Governor Tiff Macklem's ?speech, scheduled later in the day, for clues on the central bank's future policy path.
Traders have priced in a 60% probability that the Bank of Canada will raise interest rates at its meeting next month
Iranian President Masoud Pezeshkian is expected to attend the United Nations General Assembly in ?New York this week, and U.S. President Donald Trump has said he would be open to meeting him.
Separately, Prime Minister Mark Carney and French President Emmanuel Macron pledged closer ties to grapple with rising geopolitical tensions, climate change and the erosion of democratic values.
ON BAYSTREET
The TSX Venture Exchange changed gears and gained 3.46 points to 923.07 Friday, for a gain on the week of 7.7 points, or 0.84%.
ON WALLSTREET
U.S. stock futures rallied on Monday as oil prices slid, with Wall Street looking to recover from a mostly losing week.
Futures for the Dow Jones Industrials ballooned 412 points, or 0.8%, to 52,491.
Futures for the S&P 500 points took on 52.5 points or 0.7%, to 7,765.
Futures for the NASDAQ Composite perked 312.50 points, or 1.1%. to 30,229.75.
Last week, the Dow slid 1.7% for its worst performance since March. The S&P 500 was off about 0.1%. Only the tech-heavy NASDAQ posted a gain, up 0.7%.
Those moves come after the latest escalation in hostilities in the Middle East over the weekend. Iran-backed Houthis said they attacked Saudi Arabia with missiles and drones on Saturday.
Later in the day, the U.S. State Department warned Americans to reconsider traveling to the Middle East as the U.S. and Iran traded threats to resume attacks.
That could heighten the significance of a key summit this week between U.S. President Donald Trump and Chinese President Xi Jinping, which will cover tariffs, critical minerals, and artificial intelligence and other economic issues.
Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng ahead of the visit.
Novo shares fell as much as 7% on Monday after the company laid out new growth ambitions to revive its fortunes in the booming obesity drug market.
The Danish company seeks to convince investors it can compete in an increasingly crowded field it helped pioneer.
In Hong Kong, the Hang Seng moved higher 1.2%, while in Japan, markets were shuttered for holiday.
Oil prices slid $2.62 to $97.68 U.S. a barrel.
Gold prices dulled $42.00 to $4,382.90 U.S an ounce.
