The TSX Composite Index capsized 103.76 points to conclude Thursday at 34,052.23.
The Canadian dollar edged ahead 0.15 cents at 72.98 cents U.S.
A key Pakistani mediator in Tehran and the administration of U.S. President Donald Trump indicated that progress has been made towards a peace deal that would open the vital Strait of Hormuz.
Meanwhile, investors are tracking corporate earnings in the U.S. ?and Canada to gauge how companies ?are tackling headwinds from the Iran war.
Seven subgroups lost ground, with consumer staples hit hardest, Saputo slipping 76 cents, or 2%, to $37.82, while Loblaw Companies backpedaled $1.17, or 1.9%, to $61.02.
In industrials, Air Canada lost 70 cents, or 3.6%, to $18.69, while CAE dipped $1.31, or 3.4%, to $37.10.
Gold stocks were also punished, with Iamgold off 90 cents, or 3.4%, to $25,89, while Equinox Gold slid 43 cents, or 2.1%, to $20.30.
Telecoms led the parade of winning subgroups, led by Quebecor, grabbing $1.97, or 3.6%, to $57.01, while BCE gained 41 cents, or 1.3%, to $33.15.
Shares of real estate investment trust First Capital jumped ?$1.77, or 8.1%, to a record high of $23.61, after Choice Properties and KingSett Capital agreed to buy the REIT in a $6.85-billion deal, helping the real estate sub index raised.
RioCan picked up 81 cents, or 3.9%, to $21.28.
In energy, Terravest increased $4.60, or 3.8%, to $126.46, while Strathcona Resources sailed $1.04, or 2.8%, higher to $38.10.
Among other individual movers, ?Cineplex rose 67 cents, or 5.9%, to $11.96, after Bloomberg News reported the movie theater chain is shopping itself to potential buyers in a bid to combine with a rival.
On the economic beat, Statistics Canada reported there were 124,004 new motor vehicles sold in Canada in February, decreasing 0.9% from February 2025.
The Canadian Real Estate Association reported national home sales were almost unchanged (-0.1%) month-over-month in March.
ON BAYSTREET
The TSX Venture Exchange recovered 0.28 points to end Thursday at 1,043.59.
Seven of the 12 TSX subgroups were weaker on the day, weighed most by consumer staples, losing 1.5%, industrials, fading 0.9%, while gold slid 0.8%.
The five gainers were led by telecoms and real-estate, surging 1.2%, and energy, up 1.1%.
ON WALLSTREET
The S&P 500 and NASDAQ rose to new heights on Thursday, adding to their strong gains this week on optimism for a possible resolution to the Iran war.
The Dow Jones Industrials hiked 114.82 points to observe the close Thursday at 48,578.54.
The much-broader index progressed 18.24 points to 7,041.09
The tech-heavy NASDAQ recovered 86.69 points to 24,102.70.
This week, the S&P 500 has climbed more than 3% and the NASDAQ has risen more than 5%, respectively, while the Dow has advanced more than 1%.
Stocks received a bump Thursday after President Donald Trump confirmed he spoke with Lebanese President Joseph Aoun and Israeli Prime Minister Benjamin Netanyahu. He added that Israel and Lebanon had agreed to a to a 10-day ceasefire, which was to begin at 5 p.m. ET.
U.S.-listed shares of Taiwan Semiconductor shed $7.19, or 1.9%, to $367.92, despite reporting a record first-quarter profit, which increased by 58%, and beating analyst estimates. Revenue came in at 1.134 trillion new Taiwan dollars ($35 billion U.S.), compared to the NT$1.127 trillion expected, per LSEG.
But even if a U.S.-Iran peace deal were to come to fruition in the near term like investors anticipate, there could still be some market volatility approaching due to the war’s potential impact on the U.S. economy.
Prices for the 10-year Treasury demurred, raising yields to 4.31% from Wednesday’s 4.28%. Treasury prices and yields move in opposite directions.
Oil prices moved ahead $2.15 to $93.44 U.S. a barrel.
Gold prices slipped $5.70 to $4,817.90 U.S. an ounce.
Related Stories
