TSX futures rise as investors monitor US-Iran peace proposal
Futures for Canada’s main stock index edged higher on Monday as investors returned from the Easter holiday amid reports of a peace proposal between the United States and Iran, raising hopes for an easing of Middle East tensions.
June futures on the S&P/TSX Composite Index increased by 3.20 points, or 0.17%, in early trading. The proposal, reportedly brokered by Pakistan, aims to end hostilities and could allow the reopening of the strategic Strait of Hormuz. However, a senior Iranian official stated that Tehran would not agree to reopen the strait under a temporary ceasefire or accept strict deadlines while reviewing the plan.
Oil prices fell 1.9% following sharp gains in the previous session, while spot gold rose 0.6% and silver increased by 0.2%. The Canadian benchmark index closed at its highest level since March 11 on Thursday, supported by energy sector gains amid earlier oil price surges.
Trading volumes remained thin, with major markets in Europe and the Asia-Pacific region, including Hong Kong, Australia, and New Zealand, closed for the holiday.
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