Canadian stocks continued to trend upward for the third consecutive session on Wednesday, supported by largely positive corporate earnings and U.S. consumer inflation data that met expectations. The S&P/TSX Composite Index climbed by 66 points, or 0.3%, to settle at 24,989, posting a fresh all-time high on a closing basis.
Losses in metals prices across the board continued to pressure shares of mining companies. Similarly, sectors like healthcare and consumer noncyclicals also witnessed weakness. Nevertheless, solid gains in energy and technology stocks provided a solid backbone for the TSX’s upward movement.
Top TSX Composite movers and active stocks
Shares of CAE (TSX:CAE) surged by nearly 12% to $30.18 per share, making it the top-performing TSX stock for the day. This spectacular rally in CAE stock came a day after the Saint Laurent-headquartered industrial firm announced its latest quarterly financial results.
In the second quarter (ended in September) of its fiscal year 2025, CAE’s revenue improved by nearly 8% year over year to $1.14 billion due to a strong 12% jump in its civil aviation segment revenue. Although a lower civil segment margin affected its earnings per share last quarter, the company achieved a record $18 billion in adjusted backlog and generated $140 million in free cash flow, boosting investors’ confidence. On a year-to-date basis, CAE stock is now up 5.5%.
Shopify, Primo Water, and Suncor Energy were also among the top performers on the Toronto Stock Exchange, with each climbing by at least 4.2%.
In contrast, Orla Mining (TSX:OLA) tanked by nearly 10% to $5.55 per share after its third-quarter earnings missed Street analysts’ expectations. Last quarter, the Vancouver-based gold miner produced 43,788 ounces of gold, encouraging its management to raise full-year production guidance range to 130,000-140,000 ounces. However, Orla’s adjusted quarterly earnings of US$0.06 per share missed Street analyst expectations of US$0.08 per share, leading to a selloff in its stock. Despite this selloff, OLA stock is still up 28.5% year to date.
Finning International, Maple Leaf Foods, and First Quantum Minerals were also among the session’s worst-performing TSX stocks, as they slipped by at least 5% each.
Based on their daily trade volume, Enbridge, Suncor Energy, Manulife Financial, Canadian Natural Resources, and BCE were the five most active stocks on the exchange.
TSX today
Oil and gas prices were largely mixed in early trading on Thursday. At the same time, gold, silver, and copper prices continued to extend their losses. Given that, TSX mining stocks could remain under pressure at the open today.
While no major domestic economic releases are due, Canadian investors will closely monitor the important monthly wholesale inflation, weekly jobless claims, and crude oil stockpile data from the United States this morning. In the afternoon, the Federal Reserve chair Jerome Powell’s remarks about the economic outlook at an event in Texas will remain on investors’ radar.
On the corporate events side, several TSX-listed companies, including NorthWest Healthcare Properties REIT, Chartwell Retirement Residences, AtkinsRéalis, Keyera, Canadian Utilities, CI Financial, and Brookfield, will announce their latest quarterly results on November 14.
Market movers on the TSX today
