Canada: TSX Falls on Middle East Tensions.

The S&P/TSX Composite Index edged down to trade below 35,000 on Monday as reports that Iran will halt communication with the US cast doubt on a ceasefire renewal. Oil prices rebounded, reviving stagflation concerns and pushing bond yields higher. Financial stocks came under pressure amid expectations of higher borrowing costs and a hawkish monetary outlook, with RBC and TD Bank losing nearly 1%, while CIBC shed close to 2%. Gold prices also declined, weighing on mining shares. Agnico Eagle lost 3.5%, Barrick dropped nearly 3%, and WPM shed almost 4%. Meanwhile, energy stocks advanced as oil prices rallied, with Canadian Natural up nearly 3% and Suncor gaining more than 3%. Shopify also rose almost 2%, supported by optimism around AI-driven growth following Nvidia’s announcement of a new advanced processor for PCs.