2026.06.1620:30:13UTC+00TSX Climbs on US-Iran Peace Prospects

The S&P/TSX Composite Index climbed 0.3% on Tuesday to close at 35,390, lifted by optimism over a potential US–Iran peace agreement. At the G7 summit, US President Donald Trump said negotiations with Iran had entered a second stage, bolstering hopes for progress.

Oil prices declined as markets weighed the possibility of increased Iranian supply, easing concerns about energy-driven inflation and reducing expectations of a more hawkish stance from central banks. Lower bond yields supported financials and the broader market, with Royal Bank of Canada advancing 1.1%, while TD Bank and Bank of Montreal each gained 0.7%.

Rising gold prices underpinned the mining sector: Agnico Eagle added 2.6%, Wheaton Precious Metals rose 3.6%, and Barrick Gold gained 2.3%. By contrast, weaker crude prices pressured energy shares, with Canadian Natural Resources down 1.7%, Suncor Energy off 2.4%, and Cenovus Energy losing 3.2%.

In the housing market, home sales increased 5.5% in May even as prices edged lower. Investors now turn their attention to the US Federal Reserve’s policy decision on Wednesday, with markets broadly expecting interest rates to be left unchanged.