2026.05.2714:10:16UTC+00TSX Falls as Middle East Peace Remains Uncertain

The S&P/TSX Composite Index slipped nearly 0.5% to trade around 34,500 on Wednesday, as investors tracked geopolitical developments in the Middle East and digested earnings from major banks. An unofficial draft of a proposed US–Iran interim peace agreement suggested that maritime traffic through the Strait of Hormuz could return to normal within a month of the deal being finalized, though it remains unclear whether Washington has accepted the terms.

Oil prices retreated, weighing on energy names: Canadian Natural and Suncor each lost about 2%. Gold prices also declined, dragging down precious metals miners, with Agnico Eagle and WPM both slipping around 1%.

In financials, BMO advanced 0.4% after reporting a sharp increase in profit, supported by strong capital markets performance. Scotiabank added 1%, buoyed by higher trading revenue amid heightened market volatility. By contrast, NBC fell 2% ahead of its results due later in the day, while RBC, TD Bank, and CIBC also traded lower in advance of their earnings reports scheduled for Thursday.