Canada’s main stock index lost ground on Monday as oil prices rose following renewed US-Iran combat in the Strait of Hormuz. The TSX also recorded its fifth straight month of advances, supported by a powerful rally in mining shares as metal prices strengthened. The sector has climbed more than 27 per cent this month. Attention now shifts to Wednesday’s Bank of Canada meeting, where policymakers are widely expected to keep rates steady at 2.25 per cent.
South of the border, US markets declined as military conflict with Iran reignited. The latest strike was the first publicly acknowledged US action against Iranian positions since late July, while Tehran reportedly responded by targeting US bases in Jordan. Investors will receive several key updates on the health of the economy this week, including the August jobs report on Friday and new data on manufacturing and services activity. British markets were closed for the Summer Bank Holiday.
| TSX | 36,270.48 | -283.44 |  |
| TSXV | 982.51 | -6.65 | |
| CSE | 164.56 | -1.41 | |
| DJIA | 53,185.90 | -374.09 | |
| NASDAQ | 26,370.89 | -31.53 | |
| S&P 500 | 7,686.14 | -25.62 | |
The Canadian dollar traded for 72.16 cents US compared to 71.90 cents US on Friday.
US crude futures traded US$2.52 higher at US$85.92 a barrel, and the Brent contract rose US$2.30 to US$90.40 a barrel.
The price of gold was up US$22.07 to US$4,452.73.
In world markets, the Nikkei was down 93.63 points to ¥66,311.93, the Hang Seng was down 17.80 points to HK$25,566.99, the FTSE remained at ₤10,824.26, and the DAX was down 311.88 points to €26,258.11.