The Canadian equities market remained largely choppy on Thursday, as delays in the U.S. debt limit deal and falling metals prices kept investors worried. As a result, the S&P/TSX Composite Index ended the session at 20,297, without any notable change from its previous closing.
While weakening gold and silver prices weighed on the shares of mining companies, strong gains in other market sectors like healthcare and industrials helped the index limit its losses for the day. With this, the main TSX benchmark is now down 0.6% on a week-to-date basis, apparently on track to end the fourth consecutive week in the red.
Top TSX Composite movers and active stocks
Lightspeed Commerce (TSX: LSPD) dived 12.5% yesterday to $17.50 per share, despite its largely better-than-expected quarterly financial results. In the fourth quarter of its fiscal year 2023 (ended in March), the Canadian commerce platform provider’s total revenue rose 26% year over year to US$184.2 million with the help of a solid 49% increase in its transaction-based revenue.
With this, Lightspeed posted an adjusted net loss of US$0.4 million, much narrower than Street analysts’ expectation of a US$7.7 million loss. However, its dismal fiscal 2024 outlook seemingly disappointed investors. LSPD stock now trades with about 10% year-to-date losses.
Canada Goose, Equinox Gold, and OceanaGold were also among the worst performers on the Toronto Stock Exchange, as they slipped more than 4% each in the last session.
On the positive side, Bausch Health and ATS Corp jumped by more than 6% each, making them the top-performing TSX stocks for the day.
Based on their daily trade volume, Suncor Energy, Manulife Financial, Enbridge, and Great-West Lifeco were the most heavily traded stocks on the exchange.
TSX today
After consistently falling for several days, commodity prices across the board were showcasing strength early Friday morning, which could help the main TSX index lift up at the open today.
Apart from domestic retail sales data, Canadian investors must keep an eye on Federal Reserve chair Jerome Powell’s comments on the economy and new developments related to debt ceiling negotiations on May 19, as these factors could keep stocks volatile.
Market movers on the TSX today
