After a string of disappointments, investors were hopeful for a prosperous week, but first, news that Canada’s inflation rate rose slightly to 3.2 per cent in May, Statistics Canada reported, driven mainly by higher gas prices, while the cost of fresh fruits and vegetables also climbed sharply.
Canada’s main stock index rose on Monday, ending a three-day losing streak for the TSX, as investors weighed the uncertain status of US-Iran peace discussions.
Mediators reported that the United States and Iran achieved “encouraging progress” during their initial round of negotiations toward a final peace agreement. However, concerns remained regarding tensions in Lebanon and the Strait of Hormuz.
Meanwhile, US stock markets were divided, as Wall Street evaluated the latest updates in Iran-related negotiations and awaited key inflation data closely monitored by the Federal Reserve. UK markets were flat as British Prime Minister Keir Starmer announced that he will resign.
| TSX | 35,002.18 | +144.84 |  |
| TSXV | 948.54 | -6.17 |  |
| CSE | 168.04 | -5.32 | |
| DJIA | 51,712.71 | +148.01 | |
| NASDAQ | 26,166.60 | -351.33 | |
| S&P 500 | 7,472.79 | -27.79 | |
The Canadian dollar traded for 70.61 cents US compared to 70.55 cents US on Friday.
US crude futures traded US$1.63 lower at US$74.22 a barrel, and the Brent contract lost US$2.35 to US$78.22 a barrel.
The price of gold was up US$47.33 to US$4,190.26.
In world markets, the Nikkei was up 1,103.90 points to ¥72,353.96, the Hang Seng was down 156.29 points to HK$23,768.52, the FTSE was up 74.58 points to ₤10,437.85, and the DAX was up 153.87 points to €25,139.69.