TSX hits record high on US and Iran peace negotiations
The S&P/TSX composite reached a record high on Monday as US-Iran peace hopes lifted mining stocks. Investors also await bank earnings and trade negotiations.
The S&P/TSX Composite Index rose 0.7% to a record 34,778.98 points on the morning of May 25. The climb follows reports of potential peace negotiations between the United States and Iran. Investors are rotating into materials while weighing the impact of a potential de-escalation on global energy flows.
### Mining Sector Drives Record Highs The materials sector gained 3.1% as Gold prices rose against a weaker dollar. AYA GOLD & SILVER INC, HUDBAY MINERALS INC, and Americas Gold & Silver each climbed more than 5%. These gains pushed Canada's main index past its previous peak set on March 2.
