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TSX Eyes Gains as Trump-Xi Summit Looms and Oil Steadies Near $95

Canadian Money Brief · Monday, May 11, 2026 Canadian equities are set for a cautious but constructive open this Monday as investors balance a packed macro calendar against an energy sector still reeling from one of its most volatile weeks in recent memory. TSX at a Glance The S&P/TSX Composite closed Friday at 34,077.76 , up 221 points (+0.65%) to cap a week dominated by whipsaw oil moves and a fragile Middle East ceasefire. The energy sector has led TSX gains over the past seven days — up roughly 5% — even as WTI crude fell about 7% on the week, settling near $95.42 per barrel . That apparent contradiction reflects Canadian producers' longer-term optimism on supply tightness rather than any single day's price swing. For the year, the TSX is up approximately 35%, outpacing most major global benchmarks. The Big Story: Trump Heads to Beijing All eyes this week will be on Washington and Beijing. President Donald Trump is scheduled to arrive in China on Wednesday , with formal ...

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Iranian Consulate in Damascus Flattened in Suspected Israeli Air Strike


In a startling escalation of conflict in the Middle East, Iran’s consulate in the Syrian capital, Damascus, was obliterated in what Syrian and Iranian media have described as an Israeli air strike. The attack has raised tensions between Israel and Iran, pitting them against each other and their respective allies.

Pictures from the scene show the flattened remains of a building that stood next to Tehran’s embassy in Damascus. Smoke billowed from the rubble, and emergency vehicles swarmed the area. An Iranian flag, defiant yet tattered, hung from a pole amidst the debris. The Syrian and Iranian foreign ministers were both present at the scene, witnessing the aftermath of the destruction.

Reports indicate that several Iranian diplomats lost their lives in the attack. Among the dead was Mohammad Reza Zahedi, a senior commander in Iran’s Revolutionary Guards Corps (IRGC). Israel, known for its covert military operations, maintained its silence, adhering to its usual practice. An Israeli military spokesperson merely stated, “We do not comment on reports in the foreign media.”

Syria’s state news agency, SANA, reported an unspecified number of deaths and injuries. Meanwhile, Iran’s Tasnim news agency confirmed that five people were killed in the Israeli strike.

Since the Iranian-backed Palestinian faction Hamas launched an attack on Israel in October, the Israeli military has intensified air strikes in Syria. Their targets include Lebanon’s Iranian-backed Hezbollah militia and Iran’s Guards, both of which support Syrian President Bashar Assad’s government.

The obliteration of the Iranian consulate in Damascus marks a significant escalation, further complicating the already volatile situation in the region. As tensions simmer, the world watches closely, wondering how this latest incident will impact the delicate balance of power in the Middle East.


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