Canada's main stock index appeared to do a 180-degree turn by the close Monday, turning a general negative trading session into the green, powered mostly by tech issues.
The TSX recovered 105.6 points to close at 33,189.
Iran named Mojtaba Khamenei to succeed his slain father as supreme leader, signaling that hardliners remain firmly in charge and the war, which entered its second week, could last longer than previously expected.
Consumer discretionary dropped with shares of Burger King-parent Restaurant Brands was down 94 cents or 2.5%, to $99.63.
Among individual movers, copper miner Lundin Mining regained 54 cents, or 1.6%, to $35.27, after J.P. Morgan downgraded its stock to "underweight" from "neutral".
Elsewhere, Kinaxis led tech stocks higher, $22.94, or 6.8%, to $362.45, while Celestica climbed $24.00, or 7.1%, to $363.51.
In industrials, MDA Inc. gained $1.62, or 4%, to $42.05, while Mullen Group collected 39 cents, or 2.3%, to $17.06.
In consumer staples, Empire Company jumped 95 cents, or 2%, to $49.16, while Loblaw Companies perked 99 cents, or 1.6%, to $63.28.
Health-care issues put a brake on things, though, as Curaleaf docked 17 cents, or 5.3%, to $3.05, while Bausch Health Companies dipped right cents, or 1.1%, to $7.25.
In financials, ONEX Corporation lost $2.29, or 2.2%, to $100.14, while Sun Life ditched $1.76, or 2%, to $86.36.
In consumer discretionary stocks, Magna International fell $1.57, or 2%, to $78.35, while Gildan Activewear slid $1.34, or 1.5%, to $83.57.
ON BAYSTREET
The TSX Venture Exchange gained 6.39 points to 1,063.43.
Eight of the 12 TSX subgroups were higher by the close, with information technology sailing 2.2%, industrials better by 0.7%, and consumer staples improving 0.6%.
The four laggards were weighed most by health-care, financials and consumer discretionary stocks, each down 0.6%.
ON WALLSTREET
The S&P 500 made a comeback from earlier losses on Monday after President Donald Trump said the war with Iran could be reaching its end.
The Dow Jones Industrials surged 239.25 points to 47,740.80. The 30-stock index is coming off its biggest weekly slide in nearly a year.
The S&P 500 index recovered 55.97 points to 6,795.99.
The NASDAQ vaulted 308.27 points, or 1.4%, to 22,695.95.
Those moves mark an impressive turnaround from the losses seen earlier in the day.
On Monday, Trump told a CBS News reporter, who shared the comments in a post on X, that “the war is very complete, pretty much.”
“They have no navy, no communications, they’ve got no Air Force,” the president said, adding that the U.S. is “very far” ahead of his initially stated timeframe for the war of four to five weeks.
Trump also said that ships are now passing through the Strait of Hormuz and that he is “thinking about taking it over.”
The broader market was also helped by a rise in semiconductor stocks. Broadcom advanced more than 4%, while Micron Technology and Advanced Micro Devices increased 5% each. Nvidia climbed more than 2%.
Prices for the 10-year Treasury sat back, nudging yields up to 4.11% from Friday’s 4.15%. Treasury prices and yields move in opposite directions.
Oil prices eased $2.54 to $88.36 U.S. a barrel.
Gold prices slumbered $7.70 to $5,151 U.S. an ounce.
