S&P/TSX composite recovers from early losses to close higher Monday [Video]

Canada’s main stock index recovered from early losses to end higher Monday along with U.S. stock markets.

Stocks climbed as concerns about tension between Israel and Iran continued to ease, said Anish Chopra, managing director at Portfolio Management Corp.

“Investors were concerned about rising tensions in the Middle East, but Iran has said it won’t escalate the conflict, so that’s good news. That’s good news for investors as well.”

The volatility index, which spiked above 20 on Friday following Israel’s strikes on Iran, was down below 17, though still elevated compared with the low levels seen in the early months of the year.

The reduced volatility marked a shift toward a more risk-on day that saw the main U.S. indexes snap six-day losing streaks as tech stocks rose.

Canada’s more resource-heavy S&P/TSX composite index was down in early trading as key resource prices fell, but it ended up 64.59 points …