Canadian stocks started the new week with a pullback as investors looked forward to third-quarter corporate earnings and the Bank of Canada’s next move on interest rates, which led to heightened caution. The S&P/TSX Composite Index gave up 99 points, or 0.4%, to settle at 24,723 — ending its three-day winning streak.
While all key market sectors ended Monday’s session in the red, the TSX selloff was mainly driven by heavy losses in real estate, consumer, and banking stocks.
Top TSX Composite movers and active stocks
NexGen Energy, Denison Mines, Magna International, and goeasy were the worst-performing TSX stocks for the day, with each sliding by at least 3.4%.
On the flip side, rallying precious metals prices drove mining stocks like MAG Silver, First Majestic Silver, and IAMGOLD up by at least 3.5% each, positioning them among the top gainers on the Toronto Stock Exchange.
Despite the broader market weakness, Bombardier (TSX: BBD.B) stock also climbed by 2.5% to $108.62 per share after it announced the start of manufacturing for its Global 8000, which it claims to be the world’s fastest and longest-range business jet.
With components being produced across facilities in Canada, the U.S., and Mexico, the Global 8000 jet is expected to enter service in the second half of 2025. The jet’s innovative features, including four living spaces, a full-size bed, and a stand-up shower, focus on the ultra-luxurious in-flight experience. Interestingly, Bombardier stock has already more than doubled in value so far in 2024 with 104% gains.
According to the exchange’s daily trade volume data, Royal Bank of Canada, TD Bank, Enbridge, TC Energy, and Bank of Nova Scotia were the five most active stocks.
TSX today
Crude oil and metals prices were largely bullish early Tuesday morning, which could lift the commodity-driven main TSX index at the open today. While no major economic releases are due this morning, expectations for the Canadian central bank’s Wednesday announcement are likely to dominate investors’ sentiments.
On the corporate events front, the TSX-listed Canadian National Railway and First Quantum Minerals are expected to announce their latest quarterly results after the market closing bell on October 22.
Market movers on the TSX today
