It wasn’t the dazzling triumph the TSX was used to, but the index still came out ahead Tuesday to yet another all-time high, riding on the shoulders of utilities and telecoms.
The TSX continued its march, gaining 17.59 points to conclude Tuesday afternoon at 36,475.92.
The Canadian dollar inched up 0.04 cents at 71.82 cents U.S.
U.S. President Donald Trump on Monday responded to Iran's conditions for a peace deal with his own demands that Iran pay compensation for people killed in wars, attacks and protests, in a rhetorical escalation likely to complicate efforts to reopen the Strait of Hormuz.
Pakistan's Defence Minister Khawaja Asif told Bloomberg News on Tuesday that recent signals pointed to a peace agreement being close, shortly after Qatar's foreign ministry ?said talks between Iran and Oman had reached an ?advanced stage.
Barrick Mining said it had appointed Sebastiaan Bock as chief executive officer for its Rest of World division. The stock fell $1.22, or 2.1%, to $55.81 to end Tuesday.
Among index sectors, capped communication gained 1.2% with telecom provider BCE rising $1.10, or 3.5% to $32.43, after BofA Global Research raised it ?to "buy."
Cargojet jumped $7.41, or 8.6%, to $93.67, after its second-quarter revenue beat estimates.
Among utilities, Brookfield Renewable Partners surged $2.09, or 4.6%, to $47.63, while Brookfield Intrastructure Partners popped $2.13, or 4%, to $55.10.
Among communication concerns, Rogers captured 92 cents, or 1.9%, to $49.24.
In the industrial sector, Air Canada went skyward $1.54, or 6%, to $27.29.
Tech stocks did not fare well, as OTEX Corporation ditched $1.02, or 3%, to $33.46, while Coveo Solutions lost 11 cents, or 2.4%, to $4.50.
ON BAYSTREET
The TSX Venture Exchange eased back 7.23 points to 966.58.
All but three of the 12 TSX subgroups moved forward, with utilities ahead 2%, telecoms better by 1.7%, and health-care up 0.9%.
The three laggards were weighed by information technology, sinking 1.2%, while gold and consumer staples each shed 0.2%.
ON WALLSTREET
The S&P 500 fell on Tuesday, bogged down by key technology stocks, as hopes among investors that the the Strait of Hormuz would reopen faltered, exacerbating lingering doubts that the U.S. and Iran can reach a broader resolution to the conflict.
The Dow Jones Industrials tumbled 184.13 points to conclude Tuesday at 53,791.85.
The much-broader index slid 24.91 points to 7,745.27.
The NASDAQ Composite retreated 159.91 points to 26,445.92.
The downward progress came as oil held steady amid uncertainty over the Middle East conflict.
Iran has said it is closing in on a deal with Oman to reopen the Strait of Hormuz, but Tehran has continued to resist direct negotiations with the U.S. until several conditions are met.
Iranian Foreign Minister Abbas Araghchi said Sunday there was “no possibility of restarting negotiations” as long as the U.S. continues violating the June memorandum of understanding and does not compensate Iran for those violations, according to the semi-official Tasnim News Agency.
Communication services was the leading S&P 500 laggard, falling more than 2% as Alphabet and AppLovin shares dropped 3.8% and nearly 6%, respectively. Alphabet shares have been under pressure recently, notching their fourth losing session in five, since Google announced that it’s reshuffling its artificial intelligence divisions last week.
Information technology was another sector in the red. Nvidia shares gave up their morning gain to close marginally lower, even after the chipmaker on Monday said it’s partnering with six large asset managers to mobilize more than $500 billion for artificial intelligence infrastructure. Apple shares were also weak, dropping more than 1%.
Prices for the 10-year Treasury showed strength, dropping yields to 4.69% from Monday’s 4.71%. Treasury prices and yields move in opposite directions.
Oil prices resurfaced $1.22 to $83.35 U.S. a barrel.
Gold prices gained $8.90 to $4,428.60 U.S. an ounce.
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