India, May 8 -- Gaining the ground lost yesterday, Canadian stocks advanced on Friday as Iran is reviewing the U.S. peace proposal to end the war and reopen the Strait of Hormuz, boosting market sentiments and easing inflationary pressure.
After opening above yesterday's close, today the benchmark S&P/TSX Composite Index traded firmly positive throughout the session before settling at 34,077.76, up by 221.14 points (or 0.65%).
Five of the 11 sectors posted gains today, with the materials sector leading the pack.
The ongoing gulf crisis continues to impact the Canadian and the U.S. stock markets.
Days before, the U.S. offered Iran a draft proposal with 14 key points which Iran continues to review. If Iran agrees to the plan, the U.S. wil...