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TSX Climbs Over 330 Points to New High as Commodities Jump

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The Toronto Stock Exchange is up over 330 points to hit a new high of 35,069 points.

Materials and energy are the best performers, gaining 3.5% and 1.5%, respectively. Gold is higher, following reports that Iran is reviewing a fresh U.S. offer to end their war and reopen the Strait of Hormuz.

The telecoms sectors is the sole decliners, down 0.5%.

Federal Minister of Internal Trade Dominic LeBlanc and Canada's chief negotiator Janice Charette are heading to Washington today to meet with U.S. trade representative Jamieson Greer. A statement from LeBlanc's office did not state the purpose of the meeting. Greer concluded first round of bilateral talks with Mexico last Friday.

In other news, U.S. President Donald Trump signed a proclamation amending his Section 232 national security tariffs on some aluminum, steel and copper imports, CTV News reports.

The proclamation lowers tariffs on some steel and aluminum derivative products, including certain types of agricultural machinery and residential heating, air conditioning and ventilation equipment to 15% from 25% previously.

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