CANADA STOCKS-TSX hits record high on energy, financials strength

Updates prices and details throughout

TSX up 0.4%

Canada minister to meet US counterpart for USMCA talks

Carney says data uneven amid reforms, recession concerns

By Tharuniyaa Lakshmi

June 2 (Reuters) - Canada's main stock index climbed to a new peak on Tuesday, helped by gains in energy and financial stocks, even as simmering tensions around the Middle East conflict kept global investors on edge.

At 10:25 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 0.4% at 34,899.07 points.

  • Iran is reviewing a proposed agreement with the U.S. to halt their war, Iranian media reported on Tuesday, after U.S. President Donald Trump said talks to reach a deal were continuing.

  • The energy sector .SPTTEN led gains, up 1.6%, as crude prices stabilized after falling earlier in the session. O/R

  • Financials were up 0.8%. Six of 10 sectors on the TSX were in the green.

  • "A lot of the tailwinds of the TSX have been coming from the materials sector and financials which has really helped the TSX lift higher. Remember, a third is financials and a third is materials... so two-thirds of the TSX has performed very well," said Michael Dehal, a senior portfolio manager at Dehal Investment Partners at Raymond James.

  • Meanwhile, Canada's minister responsible for Canada-U.S. trade, Dominic LeBlanc, will meet U.S. Trade Representative Jamieson Greer on Tuesday, the minister's office said in a statement on Monday, after Canada was left out of bilateral trade talks between the U.S. and Mexico last week.

  • "Canada needs to actually start negotiating, because the further this goes on without them sitting down and having talks, the more volatility we can see," Dehal said.

  • Canadian Prime Minister Mark Carney, pressed about statistics showing the country is in a technical recession, told reporters that as the government pressed ahead with reforms "the data will be uneven".

  • Among others, Barrick Mining ABX.TO, fell 0.4% after the gold miner said it is weighing a possible London listing for its African business, with a potential all-share transaction with UK-listed Endeavour Mining EDV.L seen as one option under consideration, two sources familiar with the matter told Reuters.


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