Canada's main stock ?index rose to a record intraday high on Tuesday, led by gains in communication and industrial shares, after a report said the United States and Iran were nearing an arrangement to end their six-month conflict.
The TSX continued its march, gaining 103.83 points to move into Tuesday afternoon at 36,562.16.
The Canadian dollar inched up 0.02 cents at 71.79 cents U.S.
U.S. President Donald Trump on Monday responded to Iran's conditions for a peace deal with his own demands that Iran pay compensation for people killed in wars, attacks and protests, in a rhetorical escalation likely to complicate efforts to reopen the Strait of Hormuz.
Pakistan's Defence Minister Khawaja Asif told Bloomberg News on Tuesday that recent signals pointed to a peace agreement being close, shortly after Qatar's foreign ministry ?said talks between Iran and Oman had reached an ?advanced stage.
Barrick Mining said it had appointed Sebastiaan Bock as chief executive officer for its Rest of World division. The stock fell 28 cents to $56.75 early Tuesday afternoon.
Among index sectors, capped communication gained 1.2% with telecom provider BCE rising $1.05, or 3.4% to $32.43, after BofA Global Research raised it ?to "buy."
Cargojet jumped $5.44, or 6.3%, to $91.70, after its second-quarter revenue beat estimates.
ON BAYSTREET
The TSX Venture Exchange eased back 3.5 points to 970.31.
All but three of the 12 TSX subgroups moved forward, with telecoms better by 1.5%, utilities taking on 1.3%, and energy ahead 0.9%.
The three laggards were weighed by information technology, sinking 1.2%, while gold and consumer staples each shed 0.2%.
ON WALLSTREET
The S&P 500 was relatively unchanged on Tuesday as investors weighed signs of progress toward reopening the Strait of Hormuz against lingering doubts that the U.S. and Iran can reach a broader resolution to the conflict.
The Dow Jones Industrials tottered 39.48 points to pause for lunch Tuesday at 53,937.50.
The much-broader index slid 7.84 points to 7,745.27.
The NASDAQ Composite dumped 82.45 points to 26,522.91.
The downward progress came as oil held steady amid uncertainty over the Middle East conflict.
Iran has said it is closing in on a deal with Oman to reopen the Strait of Hormuz, but Tehran has continued to resist direct negotiations with the U.S. until several conditions are met.
Iranian Foreign Minister Abbas Araghchi said Sunday there was “no possibility of restarting negotiations” as long as the U.S. continues violating the June memorandum of understanding and does not compensate Iran for those violations, according to the semi-official Tasnim
News Agency.
Prices for the 10-year Treasury showed strength, dropping yields to 4.69% from Monday’s 4.71%. Treasury prices and yields move in opposite directions.
Oil prices resurfaced 84 cents to $82.97 U.S. a barrel.
Gold prices surged $17.60 to $4,437.30 U.S. an ounce.
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