India, April 17 -- Rebounding from yesterday's losses, Canadian stocks climbed on Friday as market participants welcomed Iran's reopening of the Strait of Hormuz which cooled the tensions related to crude oil supply disruption ahead of the second round of U.S.-Iran peace talks.
After opening above yesterday's close, today the benchmark S&P/TSX Composite Index traded firmly positive throughout the session before settling at 34,346.29, up by 294.06 points (or 0.86%).
Eight of the 11 sectors posted gains today, with the consumer discretionary sector leading the pack.
Iran had shut the Strait of Hormuz since the U.S.-Iran war started on February 28, thereby preventing oil and energy exports from Arab nations, which pushed oil prices higher....