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TSX Hits Record High as Iran Deal Lifts Markets — Daily Update, June 16, 2026

Oil tumbles on Strait of Hormuz reopening framework. All eyes on the Federal Reserve as Kevin Warsh chairs his first policy meeting. Here is everything moving Canadian wallets today. Tuesday, June 16, 2026  |  MoneySavings.ca 🇨🇦 TSX — Another Record on the Books The S&P/TSX Composite closed at a fresh all-time high on Monday, June 15, topping 35,398 intraday before finishing near the upper end of its range. The index is now up more than 11% year-to-date , the second-best performance among major global indexes tracked through mid-June — behind only Japan's Nikkei (+31%). Monday's rally was broad-based, fuelled by a surge in risk appetite following the announcement of a U.S.–Iran peace framework over the weekend. Energy, financials, and materials all participated, though energy stocks gained somewhat less than the others as crude oil prices simultaneously fell sharply on the Strait of Hormuz reopening news — a rare case where the same headline pushed the index up and one ...
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Cyprus Unveils Six-Point Plan Backing Trump’s Gaza Initiative

                                     US President Donald Trump and Cyprus' President Nikos Christodoulides

Cyprus has pledged to provide “operational support” for U.S. President Donald Trump’s Gaza plan, signaling a practical rather than political role in shaping the territory’s future.

President Nikos Christodoulides outlined a six-point plan during a dinner with European Union leaders and Egyptian President Abdel Fattah El-Sisi. The proposal builds on the success of Cyprus’ Amalthea humanitarian aid corridor, which has already delivered critical supplies to Gaza.

According to officials, the plan includes six operational pillars developed in cooperation with the United Arab Emirates and the United Nations Office for Project Services. These measures aim to facilitate humanitarian relief, reconstruction, and long-term stability in Gaza, while also opening opportunities for Cypriot companies to participate in rebuilding efforts.

Christodoulides emphasized that Cyprus does not seek to act as a political mediator but rather as a functional partner in implementing Trump’s broader 20-point peace initiative. The proposal was first presented at the Gaza Peace Summit in Sharm El-Sheikh, where Cyprus positioned itself as a bridge between Europe, the Middle East, and international stakeholders.


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