Canada Stocks: TSX gains on US-Iran peace optimism; Americas Gold and Silver leads miners rally

Perpetua Resources

04/08/2026 15:57

Miners surge as precious metals gain
5N Plus biggest decliner, plunges over 15%
Canadian trade surplus hits four-year high in June
By Sudeshna Ghoshal
August 4 (Reuters) - Canada's main stock index opened higher on Tuesday, boosted by hopes of a U.S.-Iran peace deal, while higher precious metals prices lifted mining stocks, with Americas Gold and Silver touching a near two-week high.
The Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE gained 1.3% by 10:30 a.m. ET, on track for its biggest one-day gain in over a month.
Materials stocks .GSPTTMT advanced 4.7% on higher precious metals prices, led by Americas Gold and Silver USA.TO, Trekor Metals TKO.TO and Perpetua Resources PPTA.O, which climbed between 10.6% and 13.1%.
Precious metals advanced with spot gold XAU= up 0.8%, while silver XAG= climbed 2.4%. Spot platinum XPT= gained over 6%.
On the geopolitical front, Qatar said mediators were making progress in efforts to end the U.S.-Iran war, although Tehran has denied President Donald Trump's assertion that talks are already under way.
"There's some renewed relief coming from the Gulf states right now with the U.S. and Iran's tensions seem to have taken a step back, which is positive... markets are getting a bit of a breather," said Sartorial Wealth CEO Shiraz Ahmed.
Technology stocks .SPTTTK added 4.1%, tracking Wall Street gains as the S&P 500 hit an intraday high for the first time since early June, fueled by upbeat AI-driven forecasts from Caterpillar CAT.N and Palantir PLTR.O.
5N Plus VNP.TO fell over 15%, among the biggest decliners, after the specialty semiconductor producer reported second-quarter results late on Monday.
Telus T.TO shed 2% after being downgraded by at least three brokerages, following the telecom provider's quarterly results.
Separately, Canada's trade surplus in June hit a four-year high of C$3.86 billion ($2.75 billion), but the number largely reflected a weaker Canadian dollar rather than economic strength, Statistics Canada said on Tuesday.
A slate of energy firms and miners, including Suncor Energy SU.TO and Orla Mining OLA.TO, are due to report quarterly results after the bell.

 (Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Vijay Kishore)
 ((Sudeshna.Ghoshal@thomsonreuters.com;))