Canadian TSX Futures Rise Amid Middle East Tensions and Oil Price Surge
Futures tracking Canada's resource-heavy S&P/TSX index increased slightly on Monday, driven by a rise in crude oil prices following reports of renewed hostilities in the Gulf region. The June futures on the S&P/TSX index were up 0.1% at 6:06 a.m. ET, reflecting similar gains on Wall Street. The increase in oil prices, which rose more than 3%, was attributed to military actions involving Iran, the U.S., and Israel, with Israel ordering troops to advance further into Lebanon in its conflict with Tehran-backed Hezbollah. The energy sector has been the best-performing sector in the TSX this year, showing a more than 35% increase as of the last close, benefiting from higher crude oil prices. Meanwhile, gold prices fell against a stronger dollar, while silver prices saw a slight increase. Materials and mining stocks, which constitute nearly 17% of the TSX, are the third-largest sector behind financials and energy. 
