Equities in Toronto continued to reach new highs Tuesday, as investors took in the good vibes of the ceasefire from the conflict in the Middle East.
The TSX Composite Index marched ahead 113.94 points to conclude Tuesday at 35,389.58.
The Canadian dollar eased 0.03 cents to 71.43 cents U.S.
The interim agreement would extend a tenuous ceasefire announced in April by another 60 days and reopen the Strait of Hormuz, which has been effectively blocked ?since February, after U.S.-Israeli strikes against Iran.
SSR Mining jumped $4.04, or 10%, to $44.49, while NovaGold Resources climbed 29 cents, or 2.6%, to $11.62, and Seabridge Gold rose $1.53, or 3.6%, to $44.03.
Elsewhere in the resource sector, Lundin Gold sprang $3.15, or 3.8%, to $84.98, and Discovery Silver popped 48 cents, or 5.5%, to $9.16.
In the financial sector, Intact Financial leaped $4.86, or 1.8%, to $278.03, while goeasy Ltd. Captured 70 cents, or1.8%, to $39.33.
Apparel maker Gildan Activewear fell $16.24, or 18.8% to $70.39, after Jehoshaphat Research said it is shorting the stock.
Aritzia collapsed $6.57, or 3.8%, to $166.63.
Among energy plays, Terravest Industries skidded $8.43, or 6.8%, to $115.59, while Baytex Energy lost 23 cents, or 3.8%, to $5.90.
In techs, Celestica gave back $25.05, or 4.4%, to $538.56, while Docebo docked $1.11, or 4.4%, to $24.21.
Doubts swirled around the interim deal to end the war in the Middle East as shippers said it could take weeks for confidence to ?return after any reopening of the Strait of Hormuz, and both countries said a permanent truce was yet to be negotiated.
On the economic slate, data from the Canadian Real Estate Association showed Canadian home sales rose 5.5% in May, making up some ground after a slow start to the typically active spring market, and prices edged lower.
Elsewhere, foreign investors acquired $46.9 billion of Canadian securities in April, led by a record investment in federal government bonds.
Meanwhile, Canadian investors sold $11.4 billion of foreign securities, following five consecutive monthly investments totaling $70.3 billion.
ON BAYSTREET
The TSX Venture Exchange recovered 6.12 points to 985.64.
Seven of the 12 TSX subgroups were lower, with consumer discretionary stocks tumbling 2.8%, energy tailing off 2.1%, and information technology sliding 1.1%.
The five gainers were led by gold, brighter 2.8%, materials, up 2.4%, and financials richer 0.7%.
ON WALLSTREET
The Dow Jones Industrial Average rose to a record high on Tuesday as investors rotated out of chipmakers and into cyclical stocks amid declining oil prices.
The 30-stock was propelled higher 328.64 points Tuesday to finish at 51,999.67.
The S&P 500 index stumbled 42.94 points to 7,511.35.
The NASDAQ changed direction and gained 307.60 points to 26,376.34.
As oil dipped further, shares of Caterpillar led industrials higher, while JPMorgan Chase was a leader among banks higher as investors bet that lower energy prices will spur a re-acceleration in the U.S. economy. Caterpillar was up more than 2%, while JPMorgan advanced more than 3%.
SpaceX also continued to be a standout with its 9% pop, a move that added to its sharp gains since going public last week.
With its gains, SpaceX had at one point surpassed both Microsoft and Amazon in market cap during the session. The company priced its initial public offering at $135. It last traded around $210.
Pakistani Prime Minister Shehbaz Sharif said that both sides have declared the termination of their military operations on all fronts, with an official signing ceremony to take place this Friday in Switzerland.
A senior Trump administration official told media outlets that the memorandum of understanding was already signed electronically on Sunday.
Prices for the 10-year Treasury gained ground, lowering yields to 4.43% from Monday’s 4.47%. Treasury prices and yields move in opposite directions.
Oil prices weakened $3.73 to $77.02 U.S. a barrel.
Gold prices hiked $8.60 to $4,360.20 U.S. an ounce.
