Canadian Stocks Advance Sharply As U.S., Iran Announce To Sign A Peace Deal
(RTTNews) - Extending the gains made from two consecutive sessions last Friday, on Monday, Canadian stocks climbed sharply following Sunday's announcement by U.S. President Donald Trump that a framework agreement has been reached between the U.S. and Iran which was confirmed by I
(RTTNews) - Extending the gains made from two consecutive sessions last Friday, on Monday, Canadian stocks climbed sharply following Sunday's announcement by U.S. President Donald Trump that a framework agreement has been reached between the U.S. and Iran which was confirmed by Iran as well.
After opening higher than last Friday's close, today the benchmark S&P/TSX Composite Index traded firmly positive before settling at 35,275.64, up by 337.79 points (or 0.97%).
Notably, the index hit a new intra-day record high of 35,398.32 today.
Five of the 11 sectors posted gains today, with the materials sector leading the pack.
Today marks the day number 108 of the U.S.-Iran war which began on February 28.
Much to the relief of oil and energy traders as well as global markets, yesterday through Truth Social, Trump announced that a framework agreement with Iran to explore ways to end the long-drawn war has been completed. Iran's Deputy Foreign Minister Kazem Gharibabadi too confirmed that a deal has been reached.
Trump announced the immediate toll-free opening of the Strait of Hormuz and also lifted the naval blockade that he had imposed earlier in April on all ships entering or exiting Iranian ports.
Pakistan, which served as an intermediary between the U.S. and Iran, announced that the deal-signing ceremony will take place in Switzerland on Friday.
