The Canadian stock market turned negative on Friday after posting minor gains in the previous four consecutive sessions as worries about more interest rate hikes in 2023 kept investors on edge. The S&P/TSX Composite Index dived by 52 points, or 0.3%, for the day to settle at 19,975.
While an intraday strength in metals prices drove the shares of mining companies higher, most other key market sectors, like consumer’s non-cyclicals, real estate, and technology, witnessed a selloff, pressuring the TSX benchmark.
Top TSX Composite movers and active stocks
MAG Silver, Nuvei, Brookfield Infrastructure Partners, Maple Leaf Foods, and Canopy Growth were among the worst-performing TSX stocks in the last session, as they slipped by at least 3.5% each.
On the flip side, K92 Mining (TSX:KNT) soared 5.2% to $6.07 per share after announcing an update related to its upcoming annual general and special meeting (AGM) of shareholders. In a press release, the Vancouver-headquartered company said that independent proxy advisory firms Institutional Shareholder Services and Glass Lewis have recommended that K92 shareholders vote in favour of all the proposed resolutions in the upcoming AGM.
This year’s AGM of K92shareholders is scheduled for June 29. Besides this update, a rally in metals prices also supported KNT stock’s gains in the last session. Despite this recent rally, however, its stock is still down nearly 21% on a year-to-date basis.
Advantage Energy and NexGen Energy were also among the top performers on the Toronto Stock Exchange, as they climbed by more than 3% each.
Based on their daily trade volume, Suncor Energy, Baytex Energy, Brookfield Corp, and TC Energy were the most active stocks on the exchange.
TSX today
Metals prices were largely trading on a bearish note early Monday morning after staging a rally in the previous session. Given that, the commodity-heavy main TSX index may face pressure at the open today. However, most TSX stocks will likely remain range bound on June 19, as the U.S. stock markets remain closed for Juneteenth National Independence Day.
On the corporate events side, Algoma Steel and Empire Company are set to announce their latest quarterly results later this week, which could keep their stocks volatile.
Market movers on the TSX today
