India, May 1 -- Canadian stocks ticked lower on Friday amid the ongoing Strait of Hormuz blockade, while reports indicating that Iran has sent a fresh peace proposal to the U.S. to end the gulf war limited the losses.
After opening a little higher than yesterday's close, today the benchmark S&P/TSX Composite Index gave ground later to trade lower before settling at 33,891.18, down by 73.15 points (or 0.22%).
Four of the 11 sectors posted gains today, with the IT sector leading the pack.
The gulf war entered its third month this week and continued to remain the focus of investors. Soon after the war began, Iran shut the Strait of Hormuz and U.S. President Donald Trump enforced a naval blockade on Iran's ports preventing entry or exit of a...