14.05.202613:58:07UTC+00TSX Holds Steady as Markets Watch US-China Talks

The S&P/TSX Composite Index was little changed around the 34,000 level on Thursday, as investors tracked developments in the Middle East conflict and a closely watched US–China summit. US President Donald Trump is expected to address the Iran war during the talks, even as peace negotiations between Tehran and Washington remain stalled.

Financials advanced, with Royal Bank of Canada and Bank of Montreal both gaining close to 1%.

In corporate earnings, Canadian Tire slipped 3% despite reporting first-quarter adjusted profit that exceeded market forecasts, while Keyera added more than 1.5% even after posting a quarterly loss. Sherritt International tumbled over 20% after warning that its first-quarter financial filing may be delayed following the resignation of its external auditor and the departure of its chief financial officer.

On the economic data front, Canadian home sales inched higher in April, although prices declined slightly. Wholesale trade rose 1.9% in March, beating expectations.