Canadian TSX closes at 34,830.89 on Middle East peace optimism
Canada's main stock index, the TSX, just hit a new all-time high, closing at 34,830.89, thanks to growing optimism around Middle East peace talks.
Even though oil prices dropped, news that Iran's top negotiator and foreign minister were in Doha for talks with Qatar's prime minister on a potential deal with the US gave investors hope and pushed the market past its previous March record.
Materials sector leads as gold rises
The materials sector led Monday's gains with a 4.4% jump, helped by rising gold prices and strong performances from mining companies like Hudbay Minerals and First Quantum Minerals.
Tech and financial stocks also edged up, but energy shares fell as oil slid 6.5%.
The TSX is already up nearly 10% this year after a huge run in 2025.
Meanwhile, political uncertainty in Alberta over possible secession is making things tricky for energy stocks, and everyone is watching for major bank earnings this week to see what's next for the market.