Canadian stocks continued to scale new heights on Friday, as investors kept on digesting the latest Federal Reserve monetary policy move. The S&P/TSX Composite Index settled at 21,818 with about a 47-point, or 0.2%, gain for the day. Despite weakness in energy and mining shares due to a recent drop in commodity prices, healthcare, technology, and consumer cyclicals sectors saw a healthy recovery. Canada’s better-than-expected latest retail sales data also added optimism.
With this, the main TSX benchmark ended the week with 1.7% advances — its highest weekly gains in over a month.
Top TSX movers and active stocks
Shares of Badger Infrastructure Solutions (TSX: BDGI) rallied by 11.2% in the last session to $29.97 per share, making it the top-performing TSX stock for the day. This rally came a day after the company announced its Q4 2021 results. During the quarter, its total revenue rose by 17% year over year to about $153 million, exceeding analysts’ estimates. While two COVID-19 waves affected its profitability last year, Badger Infrastructure expects the market recovery to continue in 2022. Year to date, Badger stock is now trading with about 6% losses.
Canada Goose, Lion Electric, and Nuvei were also among the top gainers on the TSX, as they inched up by at least 7% each on Friday.
On the flip side, MAG Silver and Osisko Gold Royalties slipped by at least 7.5% each, making them the worst-performing stocks on the market benchmark.
Based on their daily trade volume, Canadian Natural Resources, Enbridge, Suncor Energy, and Manulife Financial were the most active stocks on the exchange. Nearly 19 million shares of Canadian Natural changed hands on the TSX in the last session.
TSX today
Early Monday morning, crude oil prices were trading on a firm note, which could take TSX energy stocks higher at the open today. However, weakness in metals prices and uncertainties about the ongoing Russia-Ukraine conflict could keep shares from other sectors volatile.
While no major economic releases are due today, investors could also eye on Fed chair Jerome Powell’s speech on the economic outlook this afternoon.
