Markets Surge to New Peak

Canada's main stock index rose to a record high on Monday, led by gains in materials stocks as investors took comfort from signs that the United States and Iran were negotiating an end to their conflict.

The TSX Composite Index ballooned 283.65 points to break for lunch Monday at 34,755.01.

The Canadian dollar dipped 0.02 cents to 72.46 cents U.S.

Aya Gold and Silver popped $1.41, or 4.8%, while Hudbay Minerals sprinted $2.53, or 7.5%, to $36.21. Americas Gold & Silver gained 43 cents, or 7.4%, to $8.46, among the top movers on the benchmark index.

Quarterly results from major banks, including Royal Bank of Canada, Toronto-Dominion Bank and Bank of Montreal, among others, are expected later this week. RBC surged $2.34 to $264.31, TD was up $1.84, or 1.2%, to $156.53, while BMO gathered $2.40, or 1.1%, to $224.86.

ON BAYSTREET

The TSX Venture Exchange hiked 18.99 points, or 1.9%, to 992.36.

All but two of the 12 TSX subgroups were positive midday, led by materials, up 3.3%, gold brightening 2.1%, and information technology, ahead 1.7%.

Energy looked downward 2.3%, while utilities shrank 0.01%.

In Japan, the Nikkei 225 sprang up 2.9% Monday, while markets in Hong Kong were closed for holiday.

Oil prices sank $5.73 to $90.87 U.S. a barrel.

Gold prices surged $47.10 to $4,570.30 U.S an ounce.

ON WALLSTREET

American stock markets were closed for the Memorial Day holiday.

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