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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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Diplomatic Rift Deepens as India Rejects Anand’s Embassy Staffing Claim

 

Dinesh Kumar Patnaik, High Commissioner for the Republic of India to Canada, is pictured at the High Commission of India in Ottawa, on Thursday, Oct. 16, 2025. 

India’s High Commissioner to Canada, Dinesh Patnaik, has pushed back against Foreign Minister Anita Anand’s assertion that Ottawa can once again fully staff its embassy in New Delhi.

In an interview, Patnaik said New Delhi has not agreed to restore Canada’s full diplomatic presence, stressing that Ottawa must first address delays in accrediting Indian diplomats in Canada. “It’s a reciprocal trust. Trust has to be built up on both sides,” he remarked.

Anand had recently stated that India had agreed to readmit a full cohort of Canadian diplomats, signaling a thaw in relations after years of tension However, Patnaik’s comments suggest that significant hurdles remain before ties can normalize.

The dispute comes as both countries attempt to reset relations following a series of diplomatic flashpoints, including allegations of Indian involvement in the killing of a Sikh activist in British Columbia and subsequent retaliatory measures.

For now, the path toward restoring full diplomatic engagement remains uncertain, with both sides emphasizing the need for mutual confidence before progress can be made.


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