Energy and tech gains mattered little in an otherwise broad decline for Canada’s main stock index on Monday, as escalating tensions between the United States and Iran boosted oil prices while weighing on global equity markets.
As both sides trade shots, Iran cautioned US forces on Monday against entering the Strait of Hormuz after President Donald Trump said the United States would help escort ships stuck in the Gulf amid the US-Israeli conflict with Iran. According to Reuters, Iranian state television reported that Iran’s navy had prevented what it described as “American‑Zionist” warships from entering the area.
The Canadian dollar traded for 73.49 cents US compared to 73.57 cents US on Friday.
US crude futures traded US$4.16 higher at US$106.10 a barrel, and the Brent contract rose US$6.15 to US$114.30 a barrel.
The price of gold was down US$118.75 to US$4,511.52.
In world markets, the Nikkei remained at ¥59,513.12, the Hang Seng was up 319.35 points to HK$26,095.88, the FTSE was down 14.89 points to ₤10,363.93, and the DAX was down 301.11 points to €23,991.27.
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