The S&P/TSX Composite Index slipped on Tuesday as fading expectations for a US–Iran peace agreement boosted oil prices and dampened risk appetite. Crude advanced after renewed tensions between Washington and Tehran over a proposed peace framework reignited concerns about potential supply disruptions, keeping stagflation risks in focus.
Financials were weaker, with Bank of Montreal down 1% and TD Bank off 0.5%. BMO said it had reached a deal to sell its transportation and vendor finance businesses to Stonepeak.
Gold prices retreated as a stronger US dollar and slightly hotter-than-expected inflation data clouded the outlook for US interest rates. Barrick Gold and Wheaton Precious Metals each lost more than 1%.
In corporate news, Chemtrade Logistics fell nearly 5% after posting first-quarter results that missed estimates, while Organigram tumbled more than 14% on a steeper-than-anticipated drop in net revenue. Constellation Software (-0.4%) and Franco-Nevada (-0.5%) are scheduled to report their first-quarter 2026 earnings after the close.
