Canadian equities took a breather on Thursday after diving in seven out of the last eight sessions as a sequential improvement in the U.S. quarterly GDP (gross domestic product) growth and an intraday decline in treasury bond yields comforted investors. The S&P/TSX Composite Index inched up by 155 points, or 0.8%, yesterday to settle at 19,591, still down 1% on a week-to-date basis.
Top TSX Composite movers and active stocks
Lithium Americas (TSX:LAC) rose 5.2% to $23.15 per share, making it the top-performing TSX Composite component for the day. This rally in LAC stock came after the Vancouver-headquartered lithium minier told investors that its planned separation into two companies, Lithium Argentina and Lithium Americas, is expected to be completed on October 3.
Notably, the “regular-way” trading of these two new separate companies’ shares is anticipated to start on the NYSE and TSX on October 4 only after receiving confirmation from these exchanges.
Celestica, Teck Resources, and Nexgen Energy were also among the top gainers on the Toronto Stock Exchange, as they inched up by at least 4.2% each.
In contrast, Innergex Renewable Energy, Africa Oil, Brookfield Renewable Partners, TC Energy, and Algonquin Power & Utilities were the worst-performing TSX stocks yesterday, as they dived by at least 3.8% each.
Based on their daily trade volume, Toronto-Dominion Bank, Canadian Natural Resources, Suncor Energy, and TC Energy were the most active stocks for the day.
Commodity prices across the board were bullish early Friday morning, which could lift the resource-heavy TSX index at the open on the final trading day of September. Besides the monthly personal consumption expenditure data from the United States, Canadian investors may want to closely monitor the domestic monthly GDP growth and budget balance figures this morning.
Despite the expectation of moderate gains this morning, the main TSX benchmark remains on track to end September with heavy losses, as it’s currently down 3.5% on a month-to-date basis.