22.04.202620:20:19UTC+00TSX Rises on Energy and Mining Gains

The TSX Composite Index rose 0.4% to close at 33,955 on Wednesday, supported by strength in the energy and mining sectors and by US President Trump’s decision to extend the Iran ceasefire indefinitely. Despite signs of diplomatic progress, oil prices climbed after gunfire attacks on container ships in the Strait of Hormuz. Energy producers advanced, with Canadian Natural up 0.9% and Suncor gaining 1.1%. Gold prices also increased, bolstering miners as Agnico Eagle added 0.4% and Barrick rose 0.6%. In contrast, bank stocks weakened amid higher oil prices, which rekindled stagflation concerns and pushed bond yields higher; Royal Bank of Canada slipped 0.6% and TD Bank declined 0.8%. Waste Connections reported stronger-than-expected first-quarter results after the close, yet its shares finished the session down 1%. On the trade front, Canada’s chief negotiator to the US said it was unlikely that all outstanding issues related to the North American trade pact would be resolved by July.