Canadian stocks started the new week on a strong note, despite an intraday increase in Canada’s treasury bond yields, as investors largely appeared optimistic before the release of September’s domestic consumer inflation report. The S&P/TSX Composite Index rose 158 points, or 0.8%, yesterday to settle at 19,621.
While all key market sectors ended the session in the green, the TSX rally was primarily driven by solid gains in healthcare, technology, and bank stocks.
Top TSX Composite movers and active stocks
Shares of BlackBerry (TSX:BB) surged 6.6% to $4.73 per share, trimming its month-to-date losses to 21.6%. This rally in BB stock came after the Waterloo-based tech firm announced a generative artificial intelligence (AI)-powered cybersecurity assistant for security operations centre teams.
BlackBerry’s new cybersecurity assistant will utilize private large language models to help its Cylance AI customers by reducing their research hours and providing them with information according to their needs. In another notable development, BB announced several new advanced features for its secure communication solution called SecuSUITE, which is currently used by many governments globally. On a year-to-date basis, BlackBerry stock is now up 14.3%.
Lithium Americas, Stella-Jones, and Interfor were also among the top gainers on the Toronto Stock Exchange in the last session, as they inched up by at least 3.8% each.
On the flip side, Dye & Durham, Energy Fuels, Brookfield Infrastructure Partners, and Boralex fell more than 3% each, making them the day’s worst-performing TSX stocks.
Based on their daily trade volume, TC Energy, Royal Bank of Canada, Enbridge, and TD Bank were the most heavily traded stocks on the exchange.
TSX today
Commodity prices across the board were largely mixed early Tuesday morning, pointing to a flat open for the resource-heavy main TSX index today.
Besides the important retail sales data from the United States, Canadian investors may also want to keep a close eye on Statistics Canada’s latest consumer inflation report this morning, which could give further direction to stocks.
Market movers on the TSX today
