Canada’s main stock index gained some ground on Tuesday, thanks to a rebound in gold prices after last-minute talks between the US and Iran reportedly began. So far, Iran has refused to reopen the Strait of Hormuz ahead of a deadline imposed by US President Donald Trump.
US equities eroded after Trump warned that “a whole civilization will die tonight” as his Tuesday 8 p.m. ET cut-off for Iran to make a deal and reopen the strait approaches, before adding, “maybe something revolutionarily wonderful can happen, WHO KNOWS?” Separately, the US launched overnight strikes against military targets on Iran’s Kharg Island — the country’s main oil export point — though officials said oil infrastructure was not hit.
The Canadian dollar traded for 71.97 cents US compared to 71.85 cents US on Monday.
US crude futures traded US$1.35 lower at US$111.10 a barrel, and the Brent contract lost US$3.89 to US$105.90 a barrel.
The price of gold was up US$53.23 to US$4,710.66.
In world markets, the Nikkei was up 15.88 points to ¥53,429.56, the Hang Seng remained at HK$25,116.53, the FTSE was down 87.50 points to ₤10,348.79, and the DAX was down 246.49 points to €22,921.59.
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