09.06.202613:55:34UTC+00TSX Advances on Hopes for US-Iran Deal

The S&P/TSX Composite Index rose 0.5% on Tuesday, trading above 34,500 amid signs of easing tensions in the Middle East. The White House indicated that a deal to resolve the more than three-month-long conflict with Iran could be reached within days, bolstering risk appetite.

Declines in oil prices and bond yields underpinned financial stocks and the broader market. Royal Bank of Canada and Bank of Montreal each gained about 1%, while Toronto-Dominion Bank added more than 0.5%.

Firmer gold prices supported mining shares, with Barrick Gold advancing more than 1%. In the technology sector, Shopify extended its rally with a gain of nearly 5%, as sustained optimism around artificial intelligence continued to lift tech names.

Investors also turned their attention to the Bank of Canada’s policy decision due on Wednesday, with policymakers widely expected to keep interest rates on hold.