30.06.202620:40:14UTC+00TSX Near Flat as Canada's GDP Rebounds

The S&P/TSX Composite Index edged up 0.1% to close at 34,857 on Tuesday, as investors weighed fresh GDP figures and geopolitical developments in the Middle East. Canada’s economy rebounded more strongly than expected in April following a mild contraction in March, while a flash estimate pointed to a further 0.1% monthly expansion in May, suggesting that growth may be stabilizing. This data improved the corporate earnings outlook and helped ease fears of a deeper, tariff-driven slowdown.

On the geopolitical front, US envoys in Doha said they would not meet with Iranian officials, casting doubt on diplomatic efforts to resolve the conflict and reopen the Strait of Hormuz, although technical talks on regional security are still expected later this week. Oil prices stayed below recent peaks, helping to temper inflation concerns.

Financials advanced, with Royal Bank of Canada up 1% and Toronto-Dominion Bank gaining 0.8%. Mining stocks were mixed as gold prices fluctuated: Agnico Eagle Mines rose 0.9%, while Barrick Gold slipped 0.6%. In the technology sector, Celestica surged 6.1%, mirroring gains on Wall Street.