India, May 14 -- Canadian stocks edged higher on Thursday as signals of Chinese intervention for the resolution to the Strait of Hormuz crisis emerge in the backdrop of a U.S.-China summit while the strait remains blocked for oil and energy transit.
After opening a little above yesterday's close, today the benchmark S&P/TSX Composite Index gave ground initially but regained momentum to trade positive throughout the rest of the session before settling at 34,268.27, up by 226.84 points (or 0.67%).
Ten of the 11 sectors posted gains today, with the IT sector leading the pack.
The war between the U.S. and Iran that began on February 28, though now under a ceasefire, has not ended as efforts to secure a peace deal have yielded no productive r...