TSX Edges Higher as Energy Stocks Lead Gains
The S&P/TSX composite index climbed 0.1% on Thursday as energy stocks rose 1.3% following a jump in oil prices. Gains were tempered by a 0.8% decline in mining stocks and a significant drop in Lightspeed shares after the company missed quarterly profit estimates.
The S&P/TSX composite index rose 0.1% to 34,214.93 points on May 21 as energy gains offset mining weakness. The index remains less than 1% below its March 2 peak after rebounding from earlier lows. Investors are weighing geopolitical tensions against commodity price volatility to determine if the Canadian market is fairly priced.
### Energy Gains Counter Mining Slump The energy sub-index rose 1.3% during the morning session as West Texas crude climbed more than 2%. This price action followed reports that Iran has hardened its stance on uranium stockpiles, dampening Middle East peace prospects. Two senior Iranian sources said the country's Supreme Leader directed that near-weapons-grade uranium must not be sent abroad.
