16.04.202621:05:03UTC+00TSX Edges Lower Despite Middle East Peace Hopes

The S&P/TSX Composite Index slipped 0.30% on Thursday to close at 34,052.23, even as broader market sentiment improved following President Trump’s announcement of a 10‑day ceasefire between Israel and Lebanon and signs of progress from mediators on reopening the Strait of Hormuz.

Rising geopolitical optimism coincided with a climb in oil prices driven by continued supply uncertainty, lifting energy shares and extending recent sector gains. Canadian Natural Resources advanced 0.92% on the back of today’s oil price strength.

In contrast, major banks softened as the earlier oil rally began to cool and concerns over stagflation moderated. TD Bank and Bank of Montreal dipped 0.20% and 0.40%, respectively. At the same time, European energy companies such as Uniper remained active in exploring potential Canadian LNG purchases as part of efforts to diversify supply sources.

Gold prices held firm, leaving Agnico Eagle Mines essentially unchanged, down just 0.03%. On the downside, Canadian Pacific Railway was among the day’s weakest performers, losing 1.37% and weighing on the broader index.