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Tehran Signals Defiance as Supreme Leader Vows Retaliation and Strait Closure

  A man holds a picture of Iran's new supreme leader, Mojtaba Khamenei, while people attend a funeral ceremony for the Iranian military commanders who were killed in strikes, in Tehran Iran’s Supreme Leader issued his first public remarks following the deaths of senior Iranian commanders, vowing that the country will “avenge the martyrs” and maintain the closure of the strategic Strait of Hormuz until what he described as “justice” is served. His comments, delivered during a nationally broadcast address, underscore a sharp escalation in rhetoric at a moment of heightened regional tension. The Supreme Leader framed the recent losses as sacrifices in the defense of Iran’s sovereignty, promising that those responsible “will face consequences.” He also reaffirmed Iran’s decision to keep the Strait closed, a move that has already disrupted global shipping routes and rattled energy markets. The strait, one of the world’s most critical chokepoints for oil transport, has long been a flas...
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TSX Slips from Record High Amid Trade Deal Uncertainty and Sector Pressures

 


Toronto Stock Exchange Retreats as Investors Weigh U.S.-EU Trade Deal

Canada’s main stock index, the S&P/TSX Composite, pulled back from its record high on Monday, closing down 0.5% at 27,356.44 points. The retreat was driven largely by declines in mining stocks and investor caution surrounding a newly announced trade framework between the United States and the European Union.

Sector Performance Highlights

  • Mining stocks dropped 2.4%, with New Gold falling 6.6% after releasing its Q2 earnings.
  • Energy stocks rose 1.2%, buoyed by higher oil prices.
  • Financials and consumer discretionary sectors also saw declines, reflecting broader market unease.

Trade Deal Impact The U.S.-EU trade agreement, announced Sunday, includes a 15% tariff on most EU goods and a commitment from the EU to invest approximately $600 billion in the U.S.. While the deal aims to avert a tariff escalation ahead of the August 1 deadline, uncertainty remains, especially regarding Canada’s role. President Trump hinted that a U.S.-Canada trade agreement may not be imminent, raising concerns among Canadian investors.

Looking Ahead Investors are now turning their attention to upcoming central bank decisions and earnings reports from major tech firms. The U.S. Federal Reserve and Bank of Canada are both expected to maintain current interest rates, but market participants will be watching closely for signals of future policy shifts.

The TSX’s retreat underscores the market’s sensitivity to global trade developments and sector-specific pressures. With volatility likely to persist, investors remain cautious as they navigate a complex economic landscape.

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