On Friday, Canadian stocks continued to trade on a mixed note for a second consecutive session, as rising inflation worries kept investors nervous. The S&P/TSX Composite Index ended the volatile session with minor 17 points gain at 21,549. Despite strength in energy and mining stocks due to rising prices of crude oil and precious metals, a selloff in sectors like technology and real estate limited the broader market gains in the last session.
Nonetheless, the main Canadian market index managed to end another week in green territory, as it advanced by 1.3% last week.
Top TSX movers and active stocks
The shares of Trisura Group (TSX: TSU) dived by 13.7% to $40.20 per share on Friday — making it the worst-performing TSX Composite component for the session. The sharp selloff in its stock came a day after the company announced its fourth-quarter results. In Q4 2021, Trisura’s total revenue more than doubled from a year ago to $106.6 million, beating analyst estimates. However, the company’s adjusted earnings of $0.31 per share in Q4 missed Street’s consensus estimate of $0.38 per share, hurting investors’ sentiments. Year to date, TSU stock is now trading with nearly 16% losses.
The TSX stocks like Lightspeed Commerce, Telus International, Hut 8 Mining, Magna International, and Canada Goose were also among the worst-performing stock on February 11, as they fell by at least 6% each.
On the positive side, the recent strength in gold and silver prices drove a rally in the shares of precious metals mining companies like IAMGOLD, Silvercrest Metals, and New Gold, as they inched up by more than 8.5% each.
The shares of Manulife Financial, Enbridge, Suncor Energy, Bombardier, and Baytex Energy saw a sharp surge in their daily trade volume, making them the most active stocks on the main TSX index for the day.
TSX today
Most commodities, excluding copper, were strengthening further early Monday morning, which could help most energy and precious metals mining stocks gain at the open today. In contrast, continued high inflation woes and largely weaker-than-expected corporate earnings could keep investors cautious. Given these factors, I expect TSX stocks to remain volatile today. Canadian investors could watch the latest producer price index data from the U.S. market this morning.
