Canada Stocks: TSX adds to weekly gain as peace deal hopes lift copper prices

Space Exploration Technologies

12/06/2026 21:28

TSX ends up  0.8% at 34,937.85
Materials group rises 3.1% as copper prices climb
Financials add 0.9%
Energy loses 0.5% as oil settles 3.2% lower
Updates at market close
By Tharuniyaa Lakshmi and Fergal Smith

    TORONTO, June 12 (Reuters) - Canada's main stock index moved closer to a record high on Friday, led by gains for metal mining shares, as hopes for an imminent peace deal in the Middle East boosted investor sentiment globally.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended up 266.39 points, or 0.8%, at 34,937.85 points, marking the highest closing level since the index posted a record high on June 4. For the week, the index was up 1.5%.
The U.S. benchmark S&P 500 also rose as the United States and Iran signaled that an agreement to end their war was close and as SpaceX shares surged in their debut.
"I'd say right now there is optimism this will be a lasting peace," said Shiraz Ahmed, founder at Sartorial Wealth.
The materials group .GSPTTMT, which includes metal mining shares, was up 3.1%.
A peace deal could help ease concerns over rising inflation and slower economic growth, boosting copper prices HGc1 by 2.7%.
On Wednesday, the Bank of Canada said it will not let higher energy prices become persistent inflation as it left its benchmark interest rate on hold at 2.25%. 
Heavily weighted financials .SPTTFS added 0.9% and consumer discretionary .GSPTTCD ended 0.7% higher.
Shares of Apotex Health APTX.TO were up 5.4%, adding to gains since the generic drugmaker made its market debut on Wednesday in the TSX's largest IPO in five years.
Four of the 10 major sectors ended lower, including technology .SPTTTK, which lost 1% and energy .SPTTEN
Energy was down 0.5% as the price of oil CLc1 settled 3.2% lower at $84.88 a barrel.

 (Reporting by Fergal Smith in Toronto and Tharuniyaa Lakshmi in Bengaluru; Editing by Diti Pujara and David Gregorio)
 ((fergal.smith@thomsonreuters.com; +1 647 480 7446))