Canadian Stocks Slide 0.76% as Middle East Strikes Lift Oil Prices

On June 10 the S&P/TSX Composite fell 0.76% to 34,151.32 after fresh Middle East strikes revived fears of prolonged Strait of Hormuz disruption and pushed crude prices higher. The reversal followed June 9’s sharp oil-price drop triggered by President Trump’s comments about a possible Iran deal, which had sent energy and materials sectors lower despite record April trade data. Energy stocks rebounded 1.63% on the renewed supply-risk premium while the Bank of Canada held rates at 2.25%.