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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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Hopes for a swift resumption of peace talks to resolve Cyprus’ long-standing ethnic division were dashed as Turkish President Recep Tayyip Erdogan reaffirmed his support for a two-state solution. Speaking ahead of a military parade commemorating the 50th anniversary of the Turkish invasion that split the island, Erdogan dismissed the United Nations-endorsed plan for a federated Cyprus, which Greek Cypriots have long supported.

Erdogan’s remarks came as a blow to those advocating for a unified Cyprus. The Turkish president emphasized that a federal solution is not feasible, insisting that the rights of Turkish Cypriots must be recognized through a two-state arrangement. This stance complicates efforts by U.N. Secretary-General Antonio Guterres and his envoy, Maria Angela Holguin Cuellar, who have been working to bring both sides back to the negotiating table.

The anniversary of the invasion is marked differently across the island. In the north, Turkish Cypriots celebrate what they view as liberation from Greek Cypriot dominance, while in the south, Greek Cypriots mourn the invasion’s devastating impact, which left thousands dead or missing and displaced a significant portion of the population.

Erdogan’s firm position underscores the deep-seated divisions that continue to hinder peace efforts. As both sides remain entrenched in their views, the path to reconciliation appears increasingly uncertain.


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