Canada’s main stock index moved higher on Thursday, supported by optimism following a ceasefire agreement between Israel and Lebanon (which did not last long), that boosted expectations of easing tensions in the wider US–Iran conflict.
From Our Partners
Meanwhile, investors turned their attention to an upcoming labour market report scheduled for release on Friday. Finance Minister François-Philippe Champagne said that Canada will extend its tariff-rate quotas on steel, along with tariff relief on select US steel and aluminum imports, for an additional year. He emphasized the move is intended to protect domestic workers from global oversupply and provide the industry with greater long-term stability. Although the ceasefire has fueled hopes of de-escalation between Washington and Tehran, hostilities persist, highlighted by Iran launching strikes on Kuwait and US forces responding near the Strait of Hormuz.
In US markets, the Dow Jones Industrial Average surged to a new all-time high, breaking above the 51,000 level during the trading day. On the other hand, the NASDAQ Composite struggled as investors appeared to shift away from technology stocks, particularly semiconductors, in favour of other sectors. This rotation was driven in part by a decline in Broadcom (NASDAQ:AVGO) shares, prompting market participants to reduce their exposure to companies closely tied to artificial intelligence.
| TSX | 35,217.06 | +415.52 |  |
| TSXV | 1,020.76 | +15.56 | |
| CSE | 180.70 | +4.61 | |
| DJIA | 51,561.93 | +874.86 | |
| NASDAQ | 26,830.96 | -23.02 |  |
| S&P 500 | 7,584.31 | +56.10 | |
The Canadian dollar traded for 71.98 cents US compared to 71.96 cents US on Wednesday.
US crude futures traded US$2.94 lower at US$93.08 a barrel, and the Brent contract lost US$2.57 to US$95.24 a barrel.
The price of gold was up US$37.58 to US$4,475.98.
In world markets, the Nikkei was down 931.44 points to ¥67,470.69, the Hang Seng was down 379.81 points to HK$25,253.40, the FTSE was up 28.02 points to ₤10,360.32, and the DAX was up 149.01 points to €24,944.95.
