Canada: TSX Nears Flatline Following US-Iran Truce.

The S&P/TSX Composite Index traded near flat around the 35,000 mark on Monday as investors assessed the temporary truce between the US and Iran. Oil prices remained near pre-conflict levels after both sides agreed to halt mutual attacks ahead of peace talks this week, following renewed clashes over the weekend. Low oil prices eased concerns over energy-driven inflation. Major banks traded higher, with RBC and TD Bank up more than 0.5%. Technology shares also advanced, tracking gains on Wall Street, with Shopify adding over 2%. On the other hand, gold prices fell as easing geopolitical tensions reduced safe-haven demand, weighing on mining stocks. Agnico Eagle and WPM lost more than 1%, while Barrick shed over 1.5%. Investors also await Canada’s May GDP data later this week for fresh signals on economic momentum. Markets continue to expect the Bank of Canada to keep rates on hold through most of the year, although bets on a rate hike by December have increased.