TSX hits record high as Middle East tensions recede

• The Toronto Stock Exchange's S&P/TSX composite index rose as much as 0.4% to a record high of 17,243.680.
• US President Donald Trump imposed more sanctions on Iran in response to a missile strike on US-led forces, quelling fears of a military retaliation by the United States.
• Technology stocks, which gained about 1.5%, were the best performers, led by ecommerce platform Shopify Inc.

Canada's main stock index hit a record high on Thursday, helped by easing tensions in the Middle East, while the Chinese confirmation of an interim trade deal next week also supported investors' risk appetite.

The Toronto Stock Exchange's S&P/TSX composite index rose as much as 0.4% to a record high of 17,243.680.

US President Donald Trump imposed more sanctions on Iran in response to a missile strike on US-led forces, quelling fears of a military retaliation by the United States.

China's commerce ministry said Vice Premier Liu He will sign a Phase 1 trade deal in Washington next week, raising hopes that a prolonged US-China tariff war will come to a close.

However, data showed that Canadian housing sector will see a surprise decline in December, dulling the investor mood.

Technology stocks, which gained about 1.5%, were the best performers, led by ecommerce platform Shopify Inc

The energy sector dropped 1.0% as oil prices retreated amid waning concerns over supply disruptions in the Middle East.

On the TSX, 151 issues were higher, while 78 issues declined for a 1.94-to-1 ratio favoring gainers, with 20.17 million shares traded.

The largest percentage gainer on the TSX was Pembina Pipeline, which jumped 5.5% after pipeline operator Kinder Morgan Inc said it had sold Pembina's 25 million shares, which it had received when Pembina bought Kinder Morgan Canada.

Baytex Energy Co fell 3.7%, the most on the TSX, while the second-biggest decliner was Encana Corp.

The most heavily traded shares by volume were Aurora Cannabis, Encana Corp and Pembina Pipeline.

The TSX posted 14 new 52-week highs and no new lows.

Across all Canadian issues there were 62 new 52-week highs and five new lows, with total volume of 33.11 million shares.