India, June 25 -- Following the US-brokered ceasefire in the Middle Eastern conflict, Canadian stocks gave back ground on Wednesday amid profit-taking from yesterday's record high levels.
Today, the benchmark S&P/TSX Composite Index, after opening a little lower than yesterday's close, fell sharply, hitting the day's low hours before close, and managed to settle at 26,566.32 down by 152.30 (or 0.57 percent).
The 12-day war between Israel and Iran came to an end yesterday after US President Donald Trump stated that both countries have agreed to a ceasefire. With the truce holding, fears of disruption to the Strait of Hormuz in the Persian Gulf, through which around 20% of the global oil and energy shipments pass through, stands abated.
An...