TSX Rises on Israel Lebanon Ceasefire Hopes
Canada's main stock index rose on Thursday as a ceasefire agreement between Israel and Lebanon boosted hopes for broader regional de-escalation. While materials shares gained on higher gold prices, energy stocks fell as oil declined on prospects for the reopening of the Strait of Hormuz.
The S&P/TSX Composite index fell 0.8% to 35,111.81 points during the morning as a Middle East ceasefire deal shifted investor focus toward upcoming labor data. The move follows a period of heightened geopolitical tension that previously drove volatility across North American markets. Investors are now weighing cooling regional conflicts against signs of a slowing domestic economy and potential recession risks.
### Middle East Ceasefire Pressures Energy Israel and Lebanon agreed to a ceasefire, raising hopes for a broader de-escalation between the United States and Iran. Despite the deal, friction remains as Iran struck Kuwait and United States forces conducted strikes near the Strait of Hormuz.
