Author: Jitendra Parashar

Surging metals prices and significantly cooler-than-expected U.S. wholesale inflation drove Canadian stocks higher on Friday, even as geopolitical tensions and trade concerns continued to simmer in the background. The S&P/TSX Composite Index climbed by 573 points, or 2.5%, for the day to settle at 23,588 — ending the week with a gain of 1.7% despite earlier volatility.

While all key market sectors ended the session in green territory, the TSX rally was mainly led by mining, energy, and consumer stocks.

Notably, U.S. producer prices dropped 0.4% in March, the sharpest monthly decline since October 2023, driven by a 4.0% drop in energy costs and a 2.1% fall in food prices. The unexpectedly soft inflation reading bolstered investor confidence that the Federal Reserve might cut interest rates in the near term, sparking renewed buying across equities.

Top TSX Composite movers and active stocks

Torex Gold Resources (TSX:TXG) stock jumped by 10.8% to $43.88 per share, making it one of the top-performing TSX stocks. This rally in TXG stock came a day after the company reported better-than-expected first-quarter 2025 production results and announced the successful commissioning of key infrastructure tied to its Media Luna project in Mexico.

In the latest quarter, Torex achieved payable gold equivalent production of 59,630 ounces despite a planned four-week mill tie-in related to integrating the flotation circuit. More importantly, Torex confirmed the first production of copper concentrate and the completion of the Guajes Tunnel conveyor, with Media Luna underground development tracking ahead of plan. On a year-to-date basis, TXG stock is up 55%.

Seabridge Gold, NovaGold Resources, and Energy Fuels were also among the top gainers on the Toronto Stock Exchange, with each rising at least 8%.

In contrast, Tilray Brands and Power Corporation of Canada slipped by at least 2.7% each, making them the session’s worst-performing TSX stocks.

Based on their daily trade volume, Canadian Natural Resources, TC Energy, Kinross Gold, Baytex Energy, and Enbridge were the five most active stocks on the exchange.

TSX today

On Friday, the White House clarified that semiconductors are officially exempt from the heightened reciprocal tariffs imposed earlier. However, the clarification sparked confusion after President Trump took to social media during the weekend to insist that no product was getting “off the hook.” In a strongly worded post, Trump emphasized that semiconductors remain under scrutiny and are currently subject to a separate 20% fentanyl tariff. Given these trade uncertainties and mixed commodity prices, the TSX could remain flat at the open today.

On the corporate events side, the TSX-listed Prairiesky Royalty will announce its latest quarterly results today after the market closing bell. Street analysts expect the energy-focused royalty firm to post $0.23 per share in adjusted earnings for the March quarter.

Market movers on the TSX today

Even with a 90-day tariff break for most countries and milder U.S. inflation data, Canadian stocks fell Thursday amid mounting trade tensions between Washington and Beijing. A day after posting its largest single-day percentage gain in over five years, the S&P/TSX Composite Index fell by 712 points, or 3%, for the day to settle at 23,015.

Although a recovery in metals prices took mining stocks higher, nearly all other sectors suffered losses as risk aversion returned to the forefront, with healthcare and technology among the hardest hit.

According to the U.S. Bureau of Labor Statistics, the Consumer Price Index rose 2.4% year over year in March 2025, at a slower pace than February’s 2.8%, offering some relief on the inflation front. However, the softer inflation print wasn’t enough to offset investor anxiety over the deepening U.S.-China trade standoff, which continued to overshadow macroeconomic data.

Top TSX Composite movers and active stocks

Methanex, Vermilion Energy, Bausch Health, and Baytex Energy were the worst-performing TSX stocks, with each plunging by at least 13%.

On the flip side, Fortuna Mining (TSX:FVI) climbed by 6.8% to $8.69 per share after the company announced strong preliminary production results for the first quarter of 2025. The Vancouver-based precious metals miner reported consolidated gold equivalent production of 103,459 ounces across its four operating mines in West Africa and Latin America.

While Fortuna’s first-quarter production marked a sequential decline, the results reaffirmed its full-year production guidance of 380,000 to 422,000 gold equivalent ounces. Besides these production results, surging gold and silver prices also boosted investor confidence and fueled FVI stock’s rally. So far in 2025, Fortuna Mining stock has now risen 41%.

Pet Valu Holdings, Osisko Gold Royalties, and G Mining Ventures also inched up by at least 5.8% each, positioning them among the top gainers on the Toronto Stock Exchange.

Based on their daily trade volume, Canadian Natural Resources, Baytex Energy, TC Energy, TD Bank, and Royal Bank of Canada were the most active stocks on the exchange.

TSX today

Metals prices across the board extended their rally in early trading on Friday, with spot gold trading at a fresh all-time high, which could help support the resource-heavy TSX at the open today.

While no major domestic economic releases are due, Canadian investors will closely monitor U.S. wholesale inflation data this morning for further clues on the Federal Reserve’s policy direction. Any sign of continued disinflation could provide a tailwind for equity markets.

More importantly, investor focus will remain on the broader trajectory of U.S.-China trade relations, as any signs of easing tensions could help restore market confidence and stabilize equity markets.

Market movers on the TSX today

Following a more than 11% drop over the previous four sessions, the Canadian stock market staged a solid rebound on Wednesday after U.S. president Donald Trump unexpectedly announced a 90-day pause on heightened trade tariffs. As the news of the tariff delay broke, investor sentiment improved sharply, lifting the S&P/TSX Composite Index by 1,220 points, or 5.4%, to 23,727 — marking its best single-day percentage gain in over five years.

While all key sectors participated in the rally, the biggest gains were seen in technology, mining, and industrial stocks, as easing trade tensions lifted commodity prices and improved the broader economic outlook.

Notably, while Trump doubled down on tough rhetoric against China — announcing an immediate hike in tariffs to 125% — he also surprised markets by introducing a 90-day pause and temporarily lowering reciprocal tariffs to 10% for cooperating nations. This unexpected olive branch helped cool fears of an all-out trade war and triggered a wave of relief buying across global equities.

Top TSX Composite movers and active stocks

Baytex Energy, Vermilion Energy, Aritzia, and Celestica jumped by over 18% each, making them the top-performing TSX stocks for the day.

Shopify (TSX:SHOP) also surged by 17.5% to $129.09 per share, making it among the session’s top gainers on the Toronto Stock Exchange. Besides the sharp broader market recovery, this rally in SHOP stock was driven by the company’s announcement to accelerate the global rollout of its Shop Pay Installments feature in partnership with Affirm.

The Canadian launch of Shop Pay Installments marks the payment product’s first availability outside the United States, with general access planned for Canada and the U.K. this summer. The feature will later expand into Australia and Western Europe. Investors cheered the move as it strengthens Shopify’s international footprint and improves its payments ecosystem. On a year-to-date basis, SHOP stock is still down nearly 16%.

In contrast, Quebecor and Hydro One slipped by at least 2% each, making them the day’s worst-performing TSX stocks.

Based on their daily trade volume, Canadian Natural Resources, Baytex Energy, Whitecap Resources, TC Energy, and Cenovus Energy were the five most active stocks on the exchange.

TSX today

West Texas Intermediate crude oil futures prices fell in early trading on Thursday, but gold prices traded on a firm note. Given these mixed signals, the TSX could see a more measured open today.

While no major domestic economic releases are due, Canadian investors will keep a close eye on the important U.S. consumer inflation data this morning. In addition, any developments related to the escalating U.S.-China trade tensions will remain a key focus for investors, especially as markets gauge the potential outcomes of the 90-day tariff pause.

On the corporate events front, the TSX-listed Richelieu Hardware will release its latest quarterly earnings report today. Analysts expect the Saint Laurent-based specialty hardware firm to post earnings of $0.33 per share for the February quarter with $439.7 million in revenue.

Market movers on the TSX today

The Canadian stock market turmoil continued for a fourth straight session on Wednesday amid global trade tensions and shaky investor confidence as the U.S. went ahead with its higher tariff plan targeting Chinese imports. The S&P/TSX Composite Index fell by 353 points, or 1.5%, to settle at 22,507.

While all key market sectors ended the session with losses, the TSX selloff was mainly led by steep declines in healthcare, energy, and consumer cyclical stocks.

Although the broader market showed a minor recovery at the open, those early gains quickly faded as selling pressure intensified through the session with U.S. president Donald Trump escalating trade tensions by signing an executive order, sharply increasing tariffs even on low-value imports from China.

Top TSX Composite movers and active stocks

Shares of Tilray Brands (TSX:TLRY) tanked by 21% after it reported a steep net loss of nearly US$794 million for the February quarter. While the cannabis company’s revenue remained steady at US$186 million, investors seemed rattled by the large non-cash impairment charges driven by macroeconomic headwinds and a sharp drop in its market value.

Despite these setbacks, Tilray highlighted improved gross margins, strong international cannabis growth, and ongoing debt reduction as part of its long-term strategy. TLRY stock has now lost 35% of its value over the last month.

NovaGold Resources, Vermilion Energy, and Baytex Energy were also among the day’s bottom performers on the Toronto Stock Exchange, with each plunging by over 10%.

On the flip side, Kinaxis, IAMGOLD, and K92 Mining climbed by more than 2% each, making them the session’s top-performing TSX stocks.

Based on their daily trade volume, TD Bank, TC Energy, Canadian Natural Resources, Cenovus Energy, and Baytex Energy were the five most active stocks on the exchange.

TSX today

Crude oil prices extended their decline for a sixth consecutive session early Wednesday, but metals prices witnessed a recovery. Given the divergence in commodity trends, sector performance on the TSX is expected to remain uneven at the open today.

While no major domestic economic releases are due, Canadian investors may want to keep an eye on the U.S. Fed’s latest meeting minutes today. As U.S. tariffs on most of its key trade partners, including China, take effect today, market sentiment is likely to remain fragile as investors await potential trade developments.

On the corporate events side, the TSX-listed North West Company and Cogeco Communications will release their latest quarterly earnings reports today.

Market movers on the TSX today

Canadian equities continued to dive for the third consecutive session on Monday as U.S. president Donald Trump threatened to impose additional 50% tariffs on Chinese goods if it doesn’t withdraw its 34% retaliatory levy on American exports. As fears of an escalating global trade war and a prolonged economic standoff weighed heavily on investor sentiment, the S&P/TSX Composite Index gave up another 334 points, or 1.4%, to close at 22,859.

Despite a minor recovery in some technology stocks, heavy losses in most other key sectors, including consumer, energy, and financials, dragged the broader index deeper into negative territory.

Top TSX Composite movers and active stocks

NGEx Minerals, TMX Group, ATS, and Great-West Lifeco plunged by over 5% each, making them the worst-performing TSX stocks for the day.

In contrast, Ivanhoe Mines (TSX:IVN) climbed by 8.6% to $11.15 per share, trimming its month-to-date losses to 8.8%. This rally in IVN stock came after the Vancouver-based metals miner reported a substantial boost in hydroelectric power availability at its Kamoa-Kakula copper complex.

The additional power enabled Ivanhoe to achieve record copper production rates in late March and has accelerated the start-up timeline for its state-of-the-art smelter, which is expected to begin producing 99.7% pure copper anodes by July. Investors also reacted positively to the company’s reaffirmed 2025 production guidance.

Celestica, Endeavour Silver, and Lundin Gold were also among the top gainers on the Toronto Stock Exchange, with each rising at least 3%.

Based on their daily trade volume, TD Bank, Canadian Natural Resources, Bank of Nova Scotia, TC Energy, and Manulife Financial were the five most active stocks on the exchange.

TSX today

Following a sharp three-day slide, commodities managed a mild recovery in early trading on Tuesday, pointing to a potentially steadier open for the resource-heavy TSX benchmark today.

While any updates on U.S.-China trade negotiations and global trade policy could sway sentiment throughout the day, Canadian investors may also want to keep an eye on the domestic purchasing managers’ index data this morning.

On the corporate events front, the TSX-listed Tilray Brands will announce its latest quarterly financial results today. Street analysts expect the cannabis company to report a net loss of US$31.9 million for the February quarter with US$210 million in revenue.

Market movers on the TSX today

Trump’s tariffs-driven selloff in Canadian stocks accelerated further on Friday as China’s retaliation and expectations of a prolonged trade war rattled global markets. The S&P/TSX Composite Index fell another 1,142 points, or 4.7%, to close at 23,193, marking a second straight session of steep losses.

While all key market sectors ended the session deep in the red, the heaviest losses were seen in energy, materials, and financial stocks, reflecting mounting fears over global demand and disrupted supply chains. With this, the TSX benchmark concluded the week with a 6.3% decline — its steepest weekly percentage drop since June 2022.

Top TSX Composite movers and active stocks

Baytex Energy, SECURE Waste Infrastructure, Vermilion Energy, New Gold, and Enerflex were the worst-performing TSX stocks for the day, with each plunging by at least 12.7%.

Despite the broader market selloff, TFI International (TSX:TFII) saw renewed buying and climbed by 5.8% to $113.02 per share. This rally in TFI stock came after the Saint Laurent-based transportation and logistics firm announced the release date for its first-quarter 2025 results, scheduled for April 23.

Investors’ high expectations from TFI’s upcoming earnings report likely reflect confidence in the company’s ability to navigate a challenging macro environment. However, despite recent gains, TFI stock is still down 42% year to date.

Jamieson Wellness and Aritzia also climbed by 1.7% each, making them rare gainers on the Toronto Stock Exchange in an otherwise deeply negative session.

Based on their daily trade volume, Canadian Natural Resources, Baytex Energy, Toronto-Dominion Bank, Suncor Energy, and Whitecap Resources were the five most active stocks on the exchange.

TSX today

Commodity prices across the board continued to fall sharply in early trading on Monday. Meanwhile, global equities markets also felt the heat as investors remained on edge over the deepening trade rift between the U.S. and its major partners. Given these pressures, the TSX could extend last week’s losses at the open today as investor sentiment remains fragile.

While no major economic releases are due this morning, Canadian investors may look to global headlines for cues. Developments in trade negotiations, commodity markets, and any signals from central banks could all influence trading direction.

Market movers on the TSX today

Canadian equities tanked sharply on Thursday as escalating global trade tensions and a broad-based selloff in commodities weighed heavily on investor sentiment. The S&P/TSX Composite Index plunged by 971 points, or 3.8%, to settle at 24,336 — marking its worst single-day decline since March 2020.

While some consumer staple and utility stocks managed to limit their losses due to their defensive nature, the overall market was dragged down by steep declines in sectors like technology, healthcare, and energy.

Investors fear that Trump’s recent tariffs on imports from most major trading partners, including a 25% levy on foreign-made vehicles, could trigger a new wave of retaliation, further hurting global trade and economic growth.

Top TSX Composite movers and active stocks

Aritzia, Shopify, Celestica, and Capstone Copper led the TSX laggards for the day, each plunging by 15% or more.

On the flip side, Lundin Gold, Hydro One, Loblaw Companies, and Telus climbed by at least 2.3% each, making them the session’s top-performing TSX stocks.

Despite the broader market selloff, Dollarama (TSX:DOL) also traded positively after announcing its upbeat fourth-quarter results for its fiscal year 2025 (ended in January). The Canadian discount retailer reported a 14.8% year-over-year jump in its fourth-quarter sales and a 4.9% rise in same-store sales, driven by strong demand for consumables and seasonal items.

Similarly, Dollarama’s quarterly profits climbed, with adjusted earnings rising 21.7% from a year ago to $1.40 per share, with the help of lower logistics costs. Dollarama also raised its quarterly dividend by 15%, signalling confidence in its cash flow and growth prospects. On a year-to-date basis, DOL stock is now up 14%.

Based on their daily trade volume, Canadian Natural Resources, TD Bank, TC Energy, Manulife Financial, and Baytex Energy were the five most active stocks on the Toronto Stock Exchange.

TSX today

After tumbling by around 5.8% in the previous session, West Texas Intermediate crude oil futures prices fell by over another 5% in early Friday trading. At the same time, silver and copper prices also dived in early trading. With broad-based commodity weakness continuing and no resolution in sight on the trade front, the TSX could extend its decline into today’s session.

Besides important jobs reports from Canada and the United States, the Federal Reserve chair Jerome Powell’s speech on the economic outlook this morning will be closely watched by TSX investors for any hints on the future path of interest rates. Mainly, market participants will be looking for reassurance amid growing fears of a global slowdown driven by trade tensions and collapsing commodity prices.

Market movers on the TSX today

The Canadian stock market climbed for a third straight session on Wednesday, as global investors waited for U.S. president Donald Trump’s new tariff announcement expected later in the day. The S&P/TSX Composite Index climbed by 274 points, or 1.1%, to settle at 25,307 — reaching its highest closing level in over a week.

Despite continued declines in healthcare stocks, solid gains in most other key sectors, including technology, consumer cyclicals, and industrials, helped power the TSX benchmark higher.

Notably, after the market closing bell, Trump declared a national emergency over persistent U.S. goods trade deficits and unveiled a sweeping executive order to impose a new reciprocal tariff regime. A base 10% tariff will apply to most U.S. imports starting April 5, escalating to as high as 50% for certain countries starting April 9.

Top TSX Composite movers and active stocks

Superior Plus (TSX:SPB) jumped by 8.1% to $7.11 per share, topping the TSX leaderboard after unveiling upgraded growth targets at its 2025 Investor Day. The Toronto-based propane distributor now expects a 17% compound annual growth rate in EBITDA (earnings before interest, taxes, depreciation, and amortization) per share through 2027, largely driven by planned share repurchases of about 40 million shares.

More importantly, Superior Plus expects its free cash flow to more than double over the next three years, supported by better margins and cost management. SPB stock is now up 11.3% year to date.

Bombardier, TFI International, and MDA Space were also among the top gainers on the Toronto Stock Exchange, with each climbing by at least 4.3%.

On the flip side, BlackBerry dived by over 9% to $4.86 per share, making it the worst-performing TSX stock for the day. This selloff came after the Waterloo-based enterprise software firm issued a cautious outlook for fiscal 2026.

Aya Gold & Silver and BCE were also among the session’s worst performers, as they slipped by more than 4% each.  

Based on their daily trade volume, TD Bank, Scotiabank, Algonquin Power & Utilities, TC Energy, and Manulife Financial were the five most active TSX stocks.

TSX today

Commodity prices across the board fell sharply in early trading on Thursday, pointing to a lower open for the resource-heavy TSX index today. In addition, Dow futures tanked by nearly 1,200 points in premarket trading as Trump’s reciprocal tariff announcement on top U.S. trade partners triggered a wave of risk-off sentiment, which may pressure the TSX further.

While Canada wasn’t one of the countries mentioned in Trump’s sweeping new tariff plan, the 25% levy on all foreign-made vehicles will still apply to Canadian auto exports. For now, Canada may have avoided the harshest tariffs, but the possibility of further trade tensions still casts a shadow over investor sentiment.

Market movers on the TSX today

Despite no clarity on U.S. trade tariffs, Canadian equities continued to climb for a second consecutive session on Tuesday, boosted by weaker-than-expected U.S. job openings data that raised hopes for rate cuts. The S&P/TSX Composite Index climbed by 116 points, or 0.5%, to settle at 25,033.

While healthcare stocks witnessed weakness, most other sectors ended the session in positive territory, with consumer, financial, and utilities sectors powering the index higher.

Top TSX Composite movers and active stocks

BRP (TSX:DOO) stock surged over 5% on Tuesday after announcing two key divestitures in its marine business. The company signed definitive agreements to sell its U.S.-based Alumacraft brand to Bryton Marine Group and its Australian Telwater unit to Yamaha Motor Australia.

These moves mark BRP’s strategic shift to double down on its core Powersports segment. Investors welcomed the streamlined focus and potential for margin improvement as BRP exits the capital-intensive boat business. Despite the recent rally, however, BRP stock is still down 30% year to date.

Ivanhoe Mines, Trisura Group, and First Quantum Minerals were also among the top gainers on the Toronto Stock Exchange, with each rising by at least 4.9%.

On the flip side, Endeavour Silver (TSX:EDR) tumbled 12.2% after announcing an upsized US$45 million bought-deal financing to help fund its US$145 million acquisition of Peru’s Kolpa mine. While the deal supports Endeavour’s strategy to become a senior silver producer, the equity dilution and financing overhang seemingly weighed heavily on investor sentiment.

Rogers Communications, Bausch Health, and MDA Space also slipped by at least 3.6% each, positioning them among the session’s worst-performing TSX stocks.

Based on their daily trade volume, TD Bank, TC Energy, Rogers Communications, South Bow, and Manulife Financial were the five most active stocks on the exchange.

TSX today

Metals prices traded on a positive note in early trading on Wednesday, which could lift TSX mining stocks at the open today.

While no major domestic economic releases are due, Canadian investors may want to keep an eye on the U.S. non-farm employment change and weekly crude oil stockpile data this morning. More importantly, in the afternoon, U.S. president Donald Trump’s trade tariffs-related remarks could reintroduce volatility, especially if he signals a hardline stance.

On the corporate events side, BlackBerry will announce its latest quarterly results on April 2, which could keep its stock in the spotlight. Street analysts expect the Waterloo-based software firm to post a profit of US$9.75 million for the February quarter with US$132.8 million in revenue.

Market movers on the TSX today

Despite uncertainty about U.S. tariffs, Canadian stocks staged a recovery on the final day of March as easing bond yields and rising crude oil and gold prices helped lift investor sentiment. The S&P/TSX Composite Index climbed 158 points, or 0.6%, on Monday to close at 24,918 — recouping a large portion of last week’s losses.

Nearly all key sectors, except technology, ended the session in the green, but the market rally was mainly driven by solid gains in consumer, industrial, and financial stocks. However, this rally couldn’t help the TSX end March in positive territory, as the index still posted a monthly decline of 1.9%, marking its second straight monthly loss.

Top TSX Composite movers and active stocks

Restaurant Brands International, Torex Gold Resources, North West Company, and K92 Mining were the top-performing TSX stocks for the day, with each inching up by at least 3.5%.

On the flip side, SSR Mining (TSX:SSRM) dived by 7.4% to $14.42 per share, making it the day’s worst-performing TSX stock. Despite the ongoing record rally in gold prices, this selloff in SSRM stock came after the precious metals mining firm released its 2025 operating guidance.

For the year, SSR Mining forecasts gold equivalent production of 410,000 to 480,000 ounces, excluding potential output from the suspended Çöpler mine. The increase reflects over 10% year-over-year growth, largely driven by its recent Cripple Creek & Victor acquisition. However, investors reacted negatively to this news as the company highlighted cost pressures and higher operating costs across the portfolio. On a year-to-date basis, SSRM stock is still up 44% and offers a 2.7% annualized dividend yield.

Ivanhoe Mines, Algoma Steel, and Capstone Copper were also among the bottom performers on the Toronto Stock Exchange, after falling by more than 4% each.

Based on their daily trade volume, TC Energy, Bank of Nova Scotia, TD Bank, Canadian Natural Resources, and Manulife Financial were the five most active stocks on the exchange.

TSX today

Oil and gold prices continued to trade positively in early trading on Tuesday, but most other commodity prices remained negative amid lingering global growth concerns. This divergence could lead to a muted open for the resource-heavy TSX today.

While no major domestic economic releases are due, Canadian investors may want to keep an eye on the latest U.S. manufacturing and job openings data this morning. More importantly, investor attention will remain focused on any updates related to trade policy as we come close to the implementation date for new U.S. tariffs.

On the corporate events side, the TSX-listed NovaGold Resources will announce its latest quarterly results today, which will keep its stock in the spotlight.

Market movers on the TSX today