TSX Continues Climb

(MENAFN- Baystreet)

Canada’s main stock index rose to near three-week highs on Monday as Barrick Mining jumped after stronger-than-expected results and other commodity-linked stocks climbed?while investors weighed the impact of the Middle East conflict.
The TSX Composite Index strengthened 137.27 points to break for lunch Monday at 34,215.03.
The Canadian dollar edged up 0.1 cents to 73.18 cents U.S.
Oil prices rallied on supply fears after the news, with the?Strait of Hormuz remaining largely closed and global markets staying tight.
On the earnings front, Doman’s first-quarter revenue missed analyst expectations on Friday because of weak plywood demand. Doman captured 23 cents, or 2.2%, to $10.50.
Barrick Mining on Monday beat Wall Street estimates?for first-quarter profit as higher?gold prices offset lower production. Barrick leaped $4.97, or 8.2%, to $64.02.
Cronos climbed 20 cents, or 5.8%, to $3.67, after the cannabis producer’s first-quarter net revenue soared 40%, helped by sales in Israel and other countries, which do not carry excise taxes.
ON BAYSTREET
The TSX Venture Exchange nicked ahead 1.8 points to 999.12.
Eight of the 12 TSX subgroups were lower as morning turned into afternoon, weighed most by information technology, sliding 2%, consumer staples, falling 1.4%, and health-care, off 1.3%.
The four gainers were led by materials, springing 3.5%, gold, better by 3.4%, and energy, ahead 0.9%.
ON WALLSTREET
The S&P 500 rose on Monday, bolstered by key tech stocks, even as oil prices rose after President Donald Trump rejected Iran’s latest proposal to end the war.
The Dow Jones Industrials index faded 12.97 points to reach noon EDT Monday at 49,596.19.
The much broader index strengthened 20.83 points to 7,419.76.
The NASDAQ gained 76.31 points to 26,323.79.
Micron Technology shares supported the market Monday, rising 5%, as the memory chip rally continued. Artificial intelligence darling Nvidia jumped 3%.
Iran sent a new proposal to U.S. negotiators, centered on ending the monthslong conflict. The counteroffer stressed the need to end the war on all fronts and to lift sanctions on Tehran, Iran’s semi-official Tasnim news agency said, citing an informed source.
In response, Trump said in a Truth Social post that he did not like Iran’s response, adding that it was“TOTALLY UNACCEPTABLE!”
Oil futures climbed following Trump’s rejection. U.S. West Texas Intermediate futures rose 1% to above $96 per barrel, while international benchmark Brent crude futures gained 2% to above $103 a barrel.
Prices for the 10-year Treasury dipped, raising yields to 4.39% from Friday’s 4.37%. Treasury prices and yields move in opposite directions.
Oil prices gained $2.15 to $97.57 U.S. a barrel.
Gold prices strengthened $8.20 to $4,738.90 U.S. an ounce.

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