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Markets Brief: Iran Deal Hopes Drive Global Rally — TSX Eyes a Strong Open | May 29, 2026

It's been a week dominated by one headline: the U.S.-Iran war and the fragile hopes of a peace deal. Heading into the long weekend, markets are ending Friday on an optimistic note, with record-setting sessions in Asia and a strong tone across North America. Here's your full wrap. Canada — TSX After a rough patch mid-week, the TSX bounced back Thursday — its first gain since Monday's record close — finishing up around 0.7% to the 34,770s range, driven largely by a blockbuster round of Big Six bank earnings. All six of Canada's largest banks beat analysts' estimates for Q2 (quarter ended April 30), raising dividends and signalling cautious optimism despite the volatile global backdrop. RBC posted a standout quarter, with its Wealth Management division up 28% year-over-year. TD Bank earned $4.25 billion in adjusted net income ($2.38/share), topping expectations, and raised its dividend. CIBC's profit surged 43%, with adjusted EPS of $2.76 beating consensus by a wid...
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How Enbridge, Open Text and other stocks moved on Wednesday


The stock market saw some notable movements on Wednesday, as several companies reported their earnings or made strategic announcements. Here are some of the highlights:

  • Enbridge (ENB-T) rose 1.2 per cent after it forecast higher core earnings and raised its dividend for 2024. The pipeline operator expects higher demand and volumes across its network, as well as lower costs and capital spending. The company also said it had secured funding for over 75 per cent of its US$9.4-billion bid to buy three utilities from Dominion Energy.
  • Open Text (OTEX-T) increased 1 per cent after it sold off a mainframe-computer business it acquired earlier this year from Micro Focus for US$2.275-billion. The company said it would use the proceeds to improve its financial position and focus on its cloud and artificial intelligence businesses. Analysts said the divestiture would enhance Open Text’s valuation and profitability.
  • Alimentation Couche-Tard (ATD-T) slid 3.2 per cent despite reporting stronger-than-expected second-quarter results The convenience store and gas station operator saw solid fuel margins and cost control, but also faced softening in U.S. same-store sales due to lower cigarette sales and consumer spending. The company tightened its full-year profit outlook.
  • First Quantum Minerals (FM-T) sustained further declines after Panama’s president said its copper mine Cobre Panama would be shut down, following a Supreme Court ruling that declared its contract unconstitutional The company said it had suspended commercial production at the mine and was putting it into care and maintenance. The ruling puts the company on the long and unpredictable road of international arbitration.
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