Equities in Canada’s largest centre rose on Monday, as signs of easing tensions in the Middle East lifted sentiment after Iran said its first wave of attacks on Israel had ended, raising hopes of a potential de-escalation in the wider U.S.-Iran war.
The TSX Composite Index bounced 225.21 points to open Monday at 34,638.66.
The Canadian dollar nicked up 0.02 cents to 71.72 cents U.S.
The materials group, which includes stocks of metal miners, gained with 5N Plus roaring ahead $1.38, or 3.4%, to $42.23, while K92 Mining added 84 cents, or 3.8%, to $22.97, and Ivanhoe Mines up 29 cents, or 2.6%, to $11.44.
Industrials rose with Magellan Aerospace climbing $2.08, or 6.5%, to $34.04, and AirBoss of America up 34 cents, or 4.5%, to $7.00.
Iran's military announced on Monday that its first wave of attacks on Israel since a ceasefire announced in April was now over, although it threatened to resume the strikes if Israel continued attacks on Lebanon.
ON BAYSTREET
The TSX Venture Exchange poked up 1.85 points, to 958.46.
Eight of the 12 TSX subgroups were up in the first hour, led by energy, up 2.1%, while industrials barreled ahead 0.8%, and materials gathered 0.7%.
The four laggards were weighed most by consumer staples, worse off by 0.9%, health-care, off 0.6%, and telecoms, retreating 0.4%.
ON WALLSTREET
U.S. equities were higher on Monday as chip stocks rebounded from Friday’s rout and President Donald Trump tried to maintain a fragile ceasefire despite Iran and Israel trading strikes.
The Dow Jones Industrials regained 142.85 points to 51,009.63.
The S&P 500 moved up 60.77 points to 7,444.51.
The tech-heavy NASDAQ reasserted itself 359.29 points, or 1.4%, to 26,068.72, following Friday’s decline of 4.2%, its worst drop since April 2025 as investors took profits on chip stocks on concern the shares had gone too far given the uncertain economic backdrop.
Shares of Micron Technology, the memory chipmaker that’s led the latest leg of the bull market, were up more than 7% after falling 13% on Friday. Shares of Nvidia and Broadcom were also higher.
Oil prices gained as Israel carried out a “large-scale strike on strategic defense systems” on Monday, according to the IDF X account, in response to Iran attacks.
But Trump said Israel and Iran “are looking to do an immediate ceasefire” and that negotiations were proceeding despite the attacks. Trump earlier ordered that Iran and Israel “must immediately stop” attacking.
Iran’s Ministry of Foreign Affairs later told reporters Monday the country’s military has ended military operations against Israel. However, Iran warned it would restart hostilities if Israel continues attacking Lebanon.
Prices for the 10-year Treasury sank sharply, raising yields to 4.55% from Friday’s 4.54%. Treasury prices and yields move in opposite directions.
Oil prices recovered 90 cents to $91.44 U.S. a barrel.
Gold prices dulled $19.60 to $4,345.70 U.S. an ounce.
Related Stories
