2026.04.1613:57:40UTC+00TSX Gains on Middle East Peace Hopes

The S&P/TSX Composite Index advanced 0.5% on Thursday, moving back above the 34,000 mark as investors assessed signs that a Middle East peace agreement may be nearing. A Pakistani mediator in Tehran and the US administration both pointed to progress on a deal that could reopen the Strait of Hormuz.

Oil prices continued to climb on ongoing supply uncertainty, though they remained well below recent highs. Energy shares extended their gains, with Suncor Energy and Canadian Natural Resources each rising nearly 1%. In contrast, major banks such as TD and BMO were little changed, as the easing oil rally helped temper energy-driven stagflation concerns.

At the same time, European buyers—including Germany’s Uniper—are examining long-term LNG supply contracts from Canada’s Pacific coast, shipped via the Panama Canal, as they seek to diversify away from Middle Eastern supply amid tensions with Iran.

Elsewhere, firmer gold prices supported precious metals producers, lifting Agnico Eagle Mines and Franco-Nevada by roughly 0.5%.