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5 Things to Know Today: Markets Near Records, Rates Hold, Oil Eases

  Here's what Canadian money watchers need to know as we head into the week: 1. TSX Hits Record Territory Amid Diplomatic Optimism The S&P/TSX Composite Index is hovering near 35,000 , approaching record levels as markets digest positive signals from U.S.-Iran negotiations. Senior officials say a deal to reopen the Strait of Hormuz could be signed at next week's G7 summit, easing geopolitical tensions and supporting oil-sensitive sectors. Financial stocks led gains—RBC, TD, and BMO all rose about 0.5–1%—while mining names like Agnico Eagle and WPM climbed despite softer gold prices. What it means for your wallet: A more stable geopolitical backdrop and lower oil prices could ease inflation concerns, improving conditions for your savings and investments. 2. Bank of Canada Holds Rates at 2.25% for Fifth Time On June 10, the BoC kept its benchmark overnight rate steady at 2.25% —marking five consecutive holds since October 2025. Governor Tiff Macklem cited a "two-directi...
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Europe Grinds to a Halt as Deep Freeze Triggers Massive Travel Disruptions

                                        KLM scraps 600 flights in Amsterdam on Wednesday as snow continues

A powerful cold snap sweeping across Europe has forced widespread cancellations of flights and trains, with conditions expected to worsen through Wednesday. Heavy snowfall, freezing temperatures, and hazardous travel conditions have already caused days of disruption across the continent, and authorities warn that the situation may deteriorate further.

Severe Weather Shuts Down Air Travel

Dutch carrier KLM announced it will cancel 600 flights at Amsterdam Schiphol Airport on Wednesday as it struggles with persistent snow and freezing conditions. Schiphol, one of Europe’s busiest hubs, has been heavily affected since Friday, with thousands of flights disrupted and de‑icing operations running around the clock.

Officials in the Netherlands have urged residents to stay home where possible, anticipating another blizzard overnight. KLM has also reported pressure on its supply of de‑icing fluid as crews work continuously to keep aircraft operational.

Rail and Road Networks Also Impacted

The extreme cold has not only grounded aircraft but also slowed rail services and blocked major roads across Europe. Trains are running late or being cancelled outright as snow accumulates on tracks and visibility drops. Several countries are bracing for additional snowfall in the coming days, raising concerns about further delays and safety risks.

Outlook

Meteorologists expect the cold snap to persist, bringing more snow and travel complications. Travellers across Europe are being advised to check schedules frequently, anticipate delays, and avoid non‑essential journeys until conditions improve.


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