The S&P/TSX Composite Index inched above 34,200 on Wednesday, reaching a six-week high as investors weighed renewed US–Iran peace efforts. US President Trump signaled that a second round of talks could soon resume in Pakistan. Oil prices rose modestly but remained below recent highs, even as the United States maintained its blockade in the Strait of Hormuz.
In Canada, the banking regulator announced it is reviewing domestic lenders’ exposure to private credit amid mounting risks in the US market. Shopify (+5%) and Constellation Software (+4%) were among the top gainers on the index. Financials also advanced, with Bank of Montreal up more than 0.5% and Royal Bank of Canada adding about 0.4%.
Energy shares were subdued as the recent oil rally lost steam, with Canadian Natural Resources and Suncor Energy both edging lower. Precious metals names also weakened, with Wheaton Precious Metals (WPM) down 0.5% and Agnico Eagle slipping nearly 1%.
