Canada Stocks-TSX rises to nearly three-week high on Mideast optimism

Of the 10 major sectors only financials .SPTTFS and energy .SPTTEN ended lower.

Financials lost 0.7%, while energy was down 0.7% as U.S. crude oil futures CLc1 settled 1.2% lower at $94.59 a barrel.

Canada's main stock index rose to a nearly three-week high on Tuesday, led by gains for technology and metal mining shares, as investors grew optimistic about prospects for a resolution in the Middle East conflict.

The S&P/TSX Composite Index .GSPTSE ended up 326.21 points, or 0.9%, at 36,335.61, marking the highest closing level since September 4.

• US President Donald Trump said that Washington and Tehran were moving toward a settlement, while a senior Iranian official said Tehran could reopen the Strait of Hormuz within days if the US eased military pressure and lifted its blockade on Iranian ports.
• Higher energy prices due to the conflict have lifted inflation pressures globally.
• "Markets are having a bit of a relief rally," said Michael Dehal, a senior portfolio manager at Dehal Investment Partners at Raymond James. "I do think that commodity prices could continue to catch a bid and continue to go higher if there's a sustained resolution."
• Copper prices HGc1 extended gains for a sixth session as top metals consumer China stocked up ahead of holidays. The materials group .GSPTTMT, which includes metal mining shares as well potash producers, such as Nutrien NTR.TO, was up 3.7%.
• Trump, asked about a potential deal to purchase potash from Belarus, said the US would continue buying from Canada but Belarus would like to sell at a lower price.