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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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Turkey and UK Seal £8 Billion Eurofighter Jet Deal, Strengthening NATO Ties

 

British Prime Minister Keir Starmer and Turkish President Tayyip Erdogan sign a deal worth up to £8 billion for 20 UK Typhoon fighter jets, at the Presidential Palace in Ankara. 


Turkey has finalized a landmark agreement with the United Kingdom to purchase 20 Eurofighter Typhoon jets in a deal worth up to £8 billion ($10.7 billion). The pact was signed in Ankara during British Prime Minister Keir Starmer’s visit with Turkish President Recep Tayyip Erdoğan, marking the largest fighter jet export deal in a generation.

The agreement underscores both nations’ commitment to bolstering NATO’s collective defense. For Turkey, the acquisition represents a significant step in modernizing its air force, which currently relies heavily on aging F-16s. The Eurofighter Typhoon, known for its advanced air-to-air combat capabilities, will enhance Ankara’s ability to respond to regional threats while complementing its ongoing development of the indigenous KAAN fifth-generation fighter progra.

From the UK’s perspective, the deal is a major boost to its defense industry. BAE Systems will lead the production of airframe components, final assembly, and weapons integration at its Lancashire facilities, supporting an estimated 20,000 British jobs over the next decade. Prime Minister Starmer hailed the agreement as “a win for British workers, a win for our defence industry, and a win for NATO security.”

Deliveries of the jets are expected to begin in 2030, making Turkey the 10th operator of the Eurofighter Typhoon. The package also includes advanced weaponry such as the MBDA Meteor beyond-visual-range air-to-air missile, further strengthening Turkey’s aerial combat capabilities.

This deal not only deepens UK-Turkey defense cooperation but also signals a broader strategic alignment within NATO as the alliance seeks to reinforce its eastern and southern flanks amid ongoing global security challenges.


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