FX.co ★ Canada Stock Market Index (TSX) at 31678.58points

The S&P/TSX Composite Index declined about 0.6% to slip below the 31,700 level on Tuesday, as rebounding oil prices weighed on the broader outlook for the Canadian economy. Sentiment deteriorated after Iranian officials denied holding direct talks with Washington to help resolve the Middle East conflict, directly contradicting recent optimistic signals from President Trump. The renewed geopolitical tension erased the prior session’s relief rally and reignited stagflation concerns, pushing bond yields higher while dampening credit demand and pressuring major banking stocks. Although the resource‑heavy index remains acutely sensitive to energy costs, the latest price spike in oil helped put a floor under energy equities, even as weaker gold prices capped gains in the mining sector. In corporate news, TransAlta Corp attracted interest after receiving an upgrade to “outperform” from NBC, while Jamieson Wellness Inc also moved into the spotlight as analysts initiated coverage with a bullish price target of $43.00.