31.03.202613:39:51UTC+00TSX Pares Sharp Monthly Losses

The S&P/TSX Composite Index climbed more than 1% on Tuesday, moving above the 32,300 level in the final trading session of March, as sentiment improved on reports that US President Donald Trump is considering an end to military operations in the Middle East. Although the Strait of Hormuz remains largely blocked and crude oil held on to gains of more than $1.00 to trade near $104 per barrel, the possibility of a diplomatic resolution fueled a broad rally in risk assets.

Domestic data added further support, with preliminary figures pointing to a third consecutive monthly expansion in Canadian GDP in February. The improvement was particularly evident in the financial sector, where shares of Royal Bank of Canada advanced about 1% and TD Bank rose more than 1.5%, while the mining sector benefited from higher gold prices.

Despite the late-month rebound, the benchmark index remains on track to end March with a loss of roughly 6%, as the five-week-long conflict continues to weigh on markets.