(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.
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.
(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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A tanker identified as the Kaifan was struck by an unknown projectile northeast of Oman’s Limah in the Strait of Hormuz, according to a July 21 report from UK Maritime Trade Operations. No ships were observed transiting the strait that day. Attribution of the strike and links to prior incidents have not been confirmed by the vessel’s owner.
Goldman Sachs has projected Brent crude averaging $80 per barrel in the fourth quarter and $75 in the following year, conditional on reduced Middle East tensions, while noting upside risks from potential shipping disruptions in the Strait of Hormuz or Red Sea.
Brent prices rose above $91 per barrel amid recent U.S.-Iran exchanges and Houthi threats to Saudi shipments before edging lower on Tuesday. A senior Iranian official told Reuters that mediators had proposed a 10-day ceasefire to preserve an interim agreement.
Opening summary: Iran claims attacks on strait of Hormuz ships amid fresh US strikes Welcome to our live coverage of the latest developments in the Middle East crisis. Iran attacked a tanker in the strait of Hormuz early on Tuesday, forcing its crew to abandon the ship, as Yemen’s Iran-backed Houthis announced they were imposing an immediate maritime blockade of Saudi Arabia in the Red Sea after the two sides traded fire last week for the first time in years.
A Houthi official said the Bab al-Mandeb strait – at the southern end of the Red Sea, through which about 12% of the world’s trade usually passes – would be closed to the Saudis in response to the kingdom’s “unjust blockade on Yemenis for over 10 years”.
Saudi Arabia said it would take “all necessary measures to protect its vessels in accordance with international law”. A 10 consecutive night of US airstrikes has not compelled Tehran to loosen its grip on the strait of Hormuz, a vital route for global energy supplies.
But even as Iran’s president said the country had returned “full-scale war”, the Iranian interior minister travelled to Pakistan – a key mediator in the conflict – for talks. In key developments: The latest US strikes came hours after Donald Trump said Iran would pay “many times over” for killing US soldiers after multiple service members were killed in action over the weekend.
A tanker came under attack early Tuesday in the Hormuz strait off Oman, forcing the crew to abandon the vessel, the British military’s United Kingdom Maritime Trade Operations centre said. Iran’s Revolutionary Guards claimed the attack as well as two other attacks on ships in the waterway on Monday.
The US military’s Central Command said its latest airstrikes were to “degrade” Iran’s ability to attack commercial shipping in the strait and included hitting military command centres and missile and drone launch sites. Iranian media reported strikes in parts of the country including Bandar Abbas, Tabriz and Bushehr, home to the country’s only operational civilian nuclear power.
Iran’s launched attacks in response against Bahrain, Kuwait and Jordan, which all host US forces. Oil prices softened after hitting their highest levels in more than a month in the previous session. Brent crude futures eased 0.4% to $88.87 a barrel by 0052 GMT on Tuesday while US West Texas Intermediate crude for September delivery was steady at $82.
47 a barrel. Democrats have seized on the deaths of three US troops killed in Iranian strikes to urge Trump to urgently reverse his resumption of the war with Iran amid widespread anxiety over climbing casualties. The Lebanese army began taking charge of security in three southern villages, the US said, as a deal to secure an Israeli withdrawal from southern Lebanon and the disarmament of Hezbollah faced its first test on the ground.
US forces struck the tanker Settebello in the Gulf of Oman on June 10, killing three Indian crew members when munitions hit the engine room and adjacent areas. Maritime tracking data indicate the vessel had transported Iranian oil under US sanctions for several years and conducted offshore transfers prior to the strike.
The US military described the action as a precision operation, while reports note the ship was stationary at the time.