Canada’s main stock index was little changed on Monday amid light trading, as investors returned from the Easter break and weighed reports that the United States and Iran had received a peace proposal, fuelling cautious optimism about a possible end to the Middle East conflict.
US markets were coming off a strong showing last week, with the S&P 500 climbing nearly 6 per cent, its best weekly performance since late November and enough to halt a five‑week losing streak. Axios reported that the US, Iran and regional intermediaries were discussing the outlines of a potential 45‑day ceasefire that could pave the way for a permanent resolution, though prospects for securing even a partial agreement ahead of Tuesday’s deadline appeared limited. Separately, Reuters said Iran and the US had received a framework to end hostilities that would trigger an immediate ceasefire and reopen the Strait of Hormuz, according to an unnamed source, with Pakistan involved in crafting the proposal.
The Canadian dollar traded for 71.83 cents US compared to 71.85 cents US on Thursday.
US crude futures traded US$1.39 higher at US$112.90 a barrel, and the Brent contract rose US$1.34 to US$110.40 a barrel.
The price of gold was down US$20.69 to US$4,656.77.
In world markets, the Nikkei was up 290.19 points to ¥53,413.68, the Hang Seng remained at HK$25,116.53, the FTSE was up 71.50 points to ₤10,436.29, and the DAX was down 130.81 points to €23,168.08.
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