S&P/TSX composite rises while U.S. markets post new highs amid hopes for Iran war
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Canada's main stock index rose as US markets reached new highs amid hopes for a resolution to the Iran conflict. The S&P/TSX composite index was up 53.63 points, while the S&P 500 and Nasdaq also saw significant gains.
Canada's main stock index finished higher as US markets reached new highs, driven by hopes that the global economy can avoid a worst-case scenario in the Iran conflict. The S&P/TSX composite index rose 53.63 points to 34,155.99. The technology sector led gains on the TSX, with Shopify Inc. rising 8.12%. In New York, the S&P 500 index eclipsed its prior all-time high, rising 0.8%. The rally has been driven by expectations of calming tensions and a resumption of oil flow from the Persian Gulf. Oil prices remained volatile, with the June crude oil contract down six cents to US$88.13 per barrel.
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