strikeMay 21, 2026

Canadian Stocks Advance As Optimism Over U.S.-Iran Peace Negotiations Increases

Summary

(RTTNews) - Canadian stocks moved higher on Thursday, extending the gains from yesterday's session, as traders watched the ongoing diplomatic process to end U.S.-Iran hostilities with positivity. The continuing blockade on the Strait of Hormuz shipping traffic capped the upward movement. After opening below yesterday's close, today the benchmark S&P/TSX Composite Index gained momentum and traded positive throughout the rest of the session before settling at 34,409.49, up by 247.67 points (or 0.72%). Nine of the 11 sectors posted gains today, with the consumer discretionary sector leading the pack. The war between the U.S.-Israeli forces versus Iran entered day number 83 today. Since the war erupted on February 28, Iran shut the Strait of Hormuz and consequently, oil and energy transit remains blocked until now. A ceasefire was announced by U.S. President Donald Trump in early April to facilitate dialogue process for halting the war but without any breakthrough. Earlier this week, Trump announced halting a planned attack on Iran and observed that serious negotiations were going on. To facilitate smooth exchange of communications between the two nations, Pakistan's Interior Minister Mohsin Naqvi is in Iran. Currently, Iran's Foreign Ministry is reportedly reviewing the U.S. response to its 14-point peace proposal which it sent to the U.S a few days before. Yesterday, Trump stated that the U.S.-Iran negotiations are right on the borderline. However, adopting a conflicting stance Trump observed that the U.S. is ready to go for a war if it does not get the right answers from Iran. At the same time, he stated that a deal could happen very quickly. Iran's semi-official Fars news agency had earlier stated that the U.S. asked Iran to hand over around 400 kilograms of highly enriched uranium and restrict Iran's nuclear activity to a single facility. Today, Reuters reported that Iran's Supreme Leader Ayatollah Mojtaba Khamenei ordered that Iran's near-weapons-grade enriched uranium must remain within Iran. The report added that Iran's establishment is of the view that moving the material abroad would leave Iran vulnerable to future attacks by the U.S. and Israel. Following this, concerns of peace talks stalling again increased. Later, an X post from Al Jazeera reporter Ali Hashem (citing a "senior Iranian official") clarified that the reports of an Iranian decree against the transfer of high-grade uranium out of Iran are false. The "senior Iranian official" told Hashem that Khamenei never stated that, no new order was issued, and called the report "propaganda". Today, Trump claimed that the U.S. will get the enriched uranium from Iran and probably destroy it but will not let Iran have it. He also reiterated that the Strait of Hormuz should remain a toll-free international waterway. On the data front, it was an uneventful day for Canada with no significant data releases. Major sectors that gained in today's trading were Consumer Discretionary (1.56%), Utilities (1.17%), Financials (1.12%), Real Estate (0.89%), and IT (0.79%). Among the individual stocks, Magna International Inc (4.08%), Gildan Activewear Inc (2.04%), Transalta Corporation (3.92%), Toronto-Dominion Bank (1.78%), and Intact Financial Corporation (2.24%) were the prominent gainers. Major sectors that lost in today's trading were Energy (0.10%) and Consumer Staples (0.26%). Among the individual stocks, Strathcona Resources Ltd (3.01%), Vermilion Energy Inc (2.31%), Headwater Exploration Inc (2.12%), and Alimentation Couche-Tard Inc (1.09%) were the notable losers. Blackberry Limited (7.87%), Energy Fuels Inc (6.86%), and Terravest Industries Inc (5.81%) were among the prime market-moving stocks today. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Perspectives

Iranian Official

Iran's resolute defense of its sovereignty against relentless U.S.-Israeli aggression, now in its 83rd day since erupting on February 28, has prompted the closure of the Strait of Hormuz to safeguard national interests and disrupt hostile supply lines. Canadian markets recorded limited gains amid talks, yet Iran's firm resistance continues to counter foreign aggression despite one-sided U.S. ceasefire gestures and ongoing review of its 14-point peace proposal.

Israeli

In the 83rd day of the U.S.-Israeli defensive campaign against Iran's regime and its expanding proxy network, Tehran's closure of the Strait of Hormuz stands as a direct existential threat, weaponizing energy routes to strangle Israel's security and regional stability. Despite the U.S. ceasefire and ongoing diplomatic channel via Pakistan, Iran's refusal to dismantle its nuclear and proxy infrastructure leaves Israel no choice but to maintain vigilance against encirclement by Hezbollah, Hamas, and other Iranian proxies.

Neutral

Canadian stocks rose on Thursday, with the S&P/TSX Composite Index closing at 34,409.49, up 247.67 points or 0.72 percent, after trading higher for most of the session. Nine of eleven sectors advanced, led by consumer discretionary, amid reports of diplomatic contacts between the U.S. and Iran that followed an early-April ceasefire announcement. Gains were limited by the ongoing closure of the Strait of Hormuz, which began after the reported start of hostilities on February 28.

Western

Canadian equities rose as markets welcomed U.S.-led diplomatic efforts to end Iranian aggression and neutralize the threat posed by Tehran's blockade of the Strait of Hormuz. The S&P/TSX Composite gained 0.72% to close at 34,409.49, though the closure of critical energy transit routes capped advances. Ongoing negotiations, supported by pauses in planned precision operations, aim to restore open shipping lanes and achieve lasting regional stability.

Pro-Peace

The 83-day war between U.S.-Israeli forces and Iran has exacted a mounting humanitarian toll, as the blockade of the Strait of Hormuz since February 28 continues to choke vital energy and supply routes, driving up costs for civilians worldwide while negotiations drag on. Despite a U.S.-announced ceasefire in early April and Iran's recent 14-point peace proposal—now under review amid Pakistani-mediated talks—progress remains stalled, with planned attacks only narrowly averted. Renewed diplomatic engagement offers the only viable path to ending the bloodshed and averting further civilian suffering.

Global South

The U.S.-Israeli campaign against Iran, now in its 83rd day since erupting on February 28, exemplifies neo-colonial power projection that disregards national sovereignty and weaponizes global chokepoints like the Strait of Hormuz, which Iran has closed in self-defense. This blockade, coupled with Washington's inconsistent ceasefire overtures and stalled talks over Iran's 14-point proposal, exposes the failure of Western-dominated institutions to curb unilateral aggression that inflates energy costs for Global South nations. Pakistan's mediation role underscores non-aligned efforts to restore dialogue amid such disruptions.

Actors involved

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Sources

RTTNewsBy RTTNews
(RTTNews) - Canadian stocks moved higher on Thursday, extending the gains from yesterday's session, as traders watched the ongoing diplomatic process to end U.S.-Iran hostilities with positivity. The continuing blockade on the Strait of Hormuz shipping traffic capped the upward m…

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