Equities
Global markets were mixed as investors assessed the latest round of U.S.-Iran negotiations for signs of progress toward resuming shipping through the Strait of Hormuz.
Wall Street futures were muted as U.S. markets return from holiday.
TSX futures pointed higher as markets eyed May inflation data, which came in higher than expected.
In Canada, investors are getting results from Alimentation Couche-Tard Inc.
“There does appear to be further progress being made during talks in Switzerland towards a lasting settlement ...,” said Susannah Streeter, chief investment strategist at Wealth Club. “It is clear there is still a long way to go, and more obstacles may emerge before a long-term deal is signed.”
Overseas, the pan-European STOXX 600 was up 0.27 per cent. Britain’s FTSE 100 gained 0.55 per cent as Prime Minister Keir Starmer announced he will resign. Germany’s DAX advanced 0.14 per cent and France’s CAC 40 dropped 0.43 per cent.
In Asia, Japan’s Nikkei closed 1.55 per cent higher, while Hong Kong’s Hang Seng declined 0.65 per cent.
Commodities
lobal oil prices fell after U.S.-Iran talks concluded in Switzerland with Tehran saying it had secured waivers for oil and petrochemical exports, easing worries about a supply shortage in global markets.
Brent crude was down 2.5 per cent at US$78.56 a barrel. West Texas Intermediate (WTI) crude futures slid 1.7 per cent to US$74.54.
“Progress between the U.S. and Iran in the talks in Switzerland is likely the main factor weighing on oil prices today,” UBS analyst Giovanni Staunovo said.
In other commodities, spot gold was up 1.2 per cent to US$4,209.49 an ounce. U.S. gold futures for August delivery fell 0.4 per cent to US$4,228.30.
Currencies and bonds
The Canadian dollar was little changed against its U.S. counterpart.
The day range on the loonie was 70.44 US cents to 70.70 US cents in early trading. The Canadian dollar was down about 2.5 per cent against the greenback over the past month.
The U.S. dollar index, which weighs the greenback against a group of currencies, declined 0.045 per cent to 100.81. The dollar was pegged at $1.4157.
The euro fell 0.13 per cent to US$1.1459. The British pound advanced 0.25 per cent to US$1.3268.
In bonds, the yield on the U.S. 10-year note was last up at 4.496 per cent.
Economic news
Euro zone’s consumer confidence
8:30 a.m. ET: Canadian CPI for May, which came in at an annual 3.2 per cent, compared with the 3-per-cent estimates.
8:30 a.m. ET: Canada’s construction investment for April.
With Reuters and The Canadian Press