TSX reaches four-week high as energy and financials rise

The main stock index in Canada reached a near four-week high on Monday as investors monitored diplomatic efforts to resolve conflict in the Middle East. The S&P/TSX Composite Index rose 73.75 points, or 0.2%, to finish at 33,181.97, its highest closing level since March 10. Gains were primarily driven by the energy and financial sectors.

Market sentiment was bolstered by reports that Iran is seeking a lasting end to its conflict with the United States and Israel. While Tehran has resisted calls for an immediate reopening of the Strait of Hormuz under a proposed temporary ceasefire, both American and Iranian officials are reportedly weighing a framework to halt the five-week-old hostilities.