The possibility of yet another ceasefire in the Middle East shone its way into the hearts of investors in this country, who sent markets higher on the ladder.
The TSX revived 77.1 points to conclude Monday at 36,458.33.
The Canadian dollar gained 0.07 cents at 71.74 cents U.S.
Tehran said it was close to reaching a final agreement with Oman on new shipping lanes through the Strait of Hormuz, but reiterated that several U.S. conditions must be met before the strategic waterway is reopened.
In earnings, Barrick missed second-quarter profit estimates. The miner's shares darted lower $3.93, or 6.5%, to $57.03.
Quarterly results from companies including Cargojet and Silvercorp Metals are due after the bell. Cargojet shares dipped 55 cents to $86.26, while those for Silvercorp grabbed 97 cents, or 6.1%, to $17.00.
Elsewhere, Western Copper and Gold appointed Mark E. Smith as chairman. Shares of the miner were up seven cents, or 2.1%, to $3.42.
Energy stocks were clearly in command, though, as Strathcona Energy rumbled $3.38, or 8.7%, to $42.06, while IPCO captured $2.52, or 8.2%, to $33.10.
In techs, Docebo flew $1.45, or 4.7%, to $32.54, while Sangoma climbed 15 cents, or 2.7%, to $5.71.
In gold, Avino Silver & Gold jumped 58 cents, or 6%, to $10.18, while I 80 Gold took on a dime, or 4.4%, to $2.37.
Utilities were among those being treated roughly, as Superior Plus doffed 74 cents, or 9%, to $7.46. while Hydro One lurched lower $1.71, or 3%, to $54.83.
Real-estate also got walloped, with units of Allied Properties REIT pitching lower 36 cents, or 3.7%, to $9.44, while Altius Group shed $2.22, or 4.2%, to $50.21.
In telecoms, Quebecor sank $2.61, or 4.2%, to $66.00, while Cogeco dipped $1.62, or 2.7%, to $59.57.
Canada is reportedly discussing trade concessions with the U.S. to avoid new tariffs.
ON BAYSTREET
The TSX Venture Exchange chugged ahead 18.91 points, or 2%, to 973.81.
Seven of the 12 TSX subgroups were in the red, weighed most by utilities, down 1.5%, while real-estate lost 1.4%, and telecoms stumbled 1.2%.
The five gainers were led by energy, springing 4% information technology, ahead 1.3%, and gold, up 0.5%.
ON WALLSTREET
The S&P 500 was relatively unchanged on Monday amid growing doubts that the U.S. and Iran will come to a lasting resolution to the conflict in the near term.
The Dow Jones Industrials dipped 61.3 points to wind up Monday at 53,975.63.
The much-broader index slipped 4.62 points to 7,753.02.
The NASDAQ Composite dumped 85.26 points to 26,605.36.
Intel was a key laggard of the session, falling 3% after the company said it’s going to be offering $15 billion in common stock. Other laggards include Nvidia and Apple, which each dropped 2%.
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, without compensating for its “violations,” according to Tasnim News Agency, a semi-official news outlet associated with the Islamic Revolutionary Guard Corps.
Prices for the 10-year Treasury faltered, raising yields to 4.71% from Friday’s 4.64%. Treasury prices and yields move in opposite directions.
Oil prices hiked $3.88 to $82.06 U.S. a barrel.
Gold prices surged $52.00 to $4,451.70.50 U.S. an ounce.
