notched their biggest gain in nearly a year after reports suggested the United States and
are looking for a way out of the war.
The
rose 2.6 per cent on Tuesday, its biggest one-day increase since April 9, 2025, led by a rally in precious metals producers and technology stocks. Toronto-based miner Americas Gold and Silver Corp. climbed more than 12 per cent.
E-commerce firm
, the third-largest stock in the index, contributed the most to the index’s overall points gain as it rose by around six per cent.
Iran has “the necessary will to end this war” but expects certain requirements to be met, Iranian President Masoud Pezeshkian told European Union Council President António Costa in a call. Later, U.S. President Donald Trump said he believes the U.S. can end the war within two to three weeks, suggesting it had largely accomplished its military goals.
“People are almost making too much of it — maybe trying to save the month with some good news,” said Greg Taylor, chief investment officer at PenderFund Capital Management Ltd. The S&P/TSX Composite fell 4.6 per cent in March despite Tuesday’s gains.
Canadian investors would be keen to see the war end because it would likely mean a drop in the value of the U.S. dollar, which has weighed on the performance of commodity producers, he said.
“There’s some optimism that the TSX could rebound because if we go back to a lower-U.S. dollar, higher-commodity world, that’s a pretty good setup for Canada,” Taylor added.
Lori Pinkowski, senior portfolio manager at Pinkowski Wealth Management, which is a part of CG Wealth Management, said that while the beginning of the end of the conflict is important, it would be better once more ships are moving through the Strait of Hormuz.
“That would also give us that confidence to put some money to work,” Pinkowski said Tuesday on BNN Bloomberg Television.
“You just want to be cautious in this environment. It’s good to get excited, it’s good to see a green day like today,” Pinkowski said. “And on the flip side, it’s important not to panic in situations of geopolitical conflict or tensions, because often in history, those have been buying opportunities.”