Partially offsetting losses from the three previous sessions, Canadian stocks edged higher on Monday as investors weighed the progress in U.S.-Iran peace talks amid conflicting reports on the reopening of the Strait of Hormuz.
After opening almost exactly at the previous week's close, today the benchmark S&P/TSX Composite Index traded firmly positive throughout the session before settling at 35,002.18, up by 144.84 points (or 0.42%).
Five of the 11 sectors posted gains today, with the materials sector leading the pack.
Last Wednesday in France, U.S. President Donald Trump signed a 14-point Memorandum of Understanding with Iran (later Iran's President Masoud Pezeshkian affixed his signature) intended to end the conflict through negotiations over a 60-day ceasefire period. He also revoked the U.S. naval blockade on ships entering or exiting Iranian ports.
Offering the much-awaited breather to global markets and ship owners, Iran reopened the Strait of Hormuz. The strait has remained shut since February 28 when the war began.
As a part of this deal, Iran demanded a complete cessation of Israeli attacks on Lebanon. However, following Israel's continued strikes on Lebanon, Iran's Islamic Revolutionary Guards Corps stated that it has shut the strait once again. The U.S. military denied The IRGC's claims of the closure of the strait.
Amid conflicting reports on the status of the strait, various maritime agencies remarked that ships continue to transit across the strait.
Trump warned that if the strait is shut again, there would be no Iran. He asserted that if Iran fails to clinch a deal, the U.S. may take over the strait and start collecting tolls.
Following this, in the first round of peace talks held in Switzerland, representatives of the Iranian negotiating team walked out as a mark of protest, leaving the rest of discussions in the hands of political leadership.
The U.S. team led by U.S. Vice President JD Vance, U.S. Special Envoy Steve Witkoff, and Trump's son-in-law Jared Kushner held the consultations with the Iranian team led by Iranian Parliament's Speaker Mohammad Bagher Ghalibaf and Iran's Foreign Minister Abbas Araghchi. According to the Iranian media, both sides held talks for nearly 80 minutes.
Qatar and Pakistan, which are acting as intermediaries, jointly stated that talks were going on well. They observed that technical-level talks would be held through this week.
The U.S. and Iran have agreed to install a communication line to avoid any further incidents in the Strait of Hormuz.
Through a social media post, Araghchi acknowledged that major progress to end the Lebanon war has been made. He also announced that Iran has secured waivers for its oil and petrochemical exports.
Today, calling the Switzerland talks productive, the U.S. Treasury Department authorized the production, delivery, and sale of Iran's crude oil through August 21.
In contrast to Trump's aggressive stance, Vance stated that Trump wanted the U.S. to turn over a new leaf in ties with Iran. He also reiterated that his lengthy talks with senior Iranian officials has created a good foundation for a successful final deal.
On the domestic front, according to Statistics Canada, the Consumer Price Index increased 1.00% percent in May over the previous month and rose to 3.20% year on year.
On a month-on-month basis, core consumer prices in Canada increased 0.60% in May, and on a year-on-year basis, it edged up to 2.20%.
As of now, there is no breakthrough news on Canada-U.S. talks on the tripartite Canada-United States-Mexico Agreement on free trade.
Major sectors that gained in today's trading were Materials (1.44%), Energy (1.12%), Utilities (0.36%), Financials (0.33%), and Industrials (0.24%).
Among the individual stocks, Alamas Gold Inc (7.87%), Transcontinental Inc (7.66%), Atkinsrealis Group Inc (6.11%), Dpm Metals Inc (4.85%%), Wheaton Precious Metals Corp (4.67%), and Enerflex Ltd (4.22%) were the prominent gainers.
Major sectors that lost in today's trading were IT (0.55%), Consumer Discretionary (0.83%), Consumer Staples (1.04%), Real Estate (1.35%), and Communication Services (1.87%).
Among the individual stocks, Rogers Communications Inc (2.58%), Altus Group Limited (4.18%), Firstservice Corporation (4.07%), Maple Leaf Foods (4.15%), and Pet Valu Holdings Ltd (4.20%) were the notable losers.
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Market Analysis
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.