TSX Rises To 7-week High As Re-opening Of Strait Of Hormuz Lifts Sentiment

Canadian stocks rose, pushing the S&P/TSX Composite Index to its highest level since March 2, after Iran declared the Strait of Hormuz completely open to commercial traffic following the 10-day ceasefire. The easing of a major geopolitical risk supported a risk-on move in equities and likely reduced near-term concern around global energy supply disruptions.

Analysis

Canadian stocks rose, pushing the S&P/TSX Composite Index to its highest level since March 2, after Iran declared the Strait of Hormuz completely open to commercial traffic following the 10-day ceasefire. The easing of a major geopolitical risk supported a risk-on move in equities and likely reduced near-term concern around global energy supply disruptions.