Futures tied to Canada's resources‑heavy stock index edged higher on Monday, as commodity prices climbed amid a widening U.S.-Israeli war with Iran that has entered its fifth week. June futures on the S&P/TSX composite index were up 0.7%, as of 05:02 a.m. ET. Get a daily digest of breaking business news straight to your inbox with the Reuters Business newsletter. Sign up here. The risk of a wider Iran war intensified on Saturday as Yemen's Iran-aligned Houthi rebels launched their first missile attack on Israel since the conflict began, marking a dangerous expansion of the battlefield. Brent crude has surged 59% so far this month, its sharpest monthly rally on record and even stronger than the gains seen during the 1990 Gulf War. The rally pushed futures above $116 a barrel on Monday, underscoring the intensity of the supply shock and heightened geopolitical tensions. Gold rose, supported by a weaker dollar and value-buying. Market participants now expect the Bank of Canada to deliver three rate hikes this year, compared with earlier bets that policy would remain unchanged. Canada's main stock index (.GSPTSE), opens new tab climbed 2.1% last week, rebounding after three straight weeks of losses. March could be its worst month since June 2022 if broader losses hold.
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