India, May 6 -- Canadian stocks have moved sharply higher during trading on Wednesday, offsetting the weakness seen over the three previous sessions.
The benchmark S&P/TSX Composite Index surged at the start of trading and has seen further upside over the course of the day. Currently, the index is up 431.17 points or 1.3 percent at 33,998.08.
The rally on Bay Street comes amid optimism about an end to the conflict in the Middle East after a report from Axios said the White House believes it's getting close to an agreement with Iran on a one-page memorandum of understanding.
Citing two U.S. officials and two other sources briefed on the issue, Axios said the deal would include Iran committing to a moratorium on nuclear enrichment and both...