India, May 6 -- Rebounding from yesterday's slide, Canadian stocks surged on Wednesday as reports indicate that the U.S. and Iran are closing in on an agreement to discuss ways to end the gulf war permanently.
After opening well above yesterday's close, today the benchmark S&P/TSX Composite Index traded positive throughout the rest of the session before settling at 33,981.82, up by 414.91 points (or 1.24%).
Seven of the 11 sectors posted gains today, with the materials sector leading the pack.
The conflict between the U.S. and Iran that began on February 28, currently under ceasefire for an indefinite period, has left the Strait of Hormuz effectively shut.
After a few days into war, U.S. President Donald Trump ordered a naval blockade o...