After rallying for four consecutive sessions and reaching its all-time highs, the Canadian stock market turned negative on Friday as mixed U.S. retail sales data weighed on investor sentiment and raised concerns about the strength of consumer spending heading into the holiday season. The S&P/TSX Composite Index gave up 159 points, or 0.6%, for the day to close at 24,891.
Despite minor gains in some consumer stocks, heavy losses in most other key market sectors, including healthcare, industrials, and energy, pressured the TSX benchmark. Nevertheless, the TSX Composite managed to end the week in positive territory with a 0.5% increase.
Top TSX Composite movers and active stocks
Advantage Energy, Birchcliff Energy, Tilray Brands, MDA Space, and MEG Energy were the worst-performing TSX stocks for the day, with each sliding by at least 3.4%.
In contrast, Aya Gold & Silver (TSX: AYA) surged nearly 8% after a sharp drop in the prior session, driven by investor reaction to its mixed third-quarter results. The Canadian silver producer reported a 6% year-over-year decline in revenue to US$11 million and a 31% drop in silver production, primarily due to non-recurring operational setbacks at its Zgounder mine.
Despite these challenges, Aya highlighted significant progress in its Zgounder expansion project, which is over 99% complete, with commercial production anticipated by the late fourth quarter of 2024. The company also pointed to high-grade drilling results and exploration successes at Zgounder and Boumadine mines, which signal strong resource growth potential. AYA stock is now up 31% year to date.
Primo Brands and Laurentian Bank of Canada were also among the session’s top gainers on the Toronto Stock Exchange as they inched up by at least 4% each.
Based on their daily trade volume, Enbridge, Manulife Financial, Canadian Natural Resources, Tourmaline Oil, and Toronto-Dominion Bank were the five most active stocks on the exchange.
TSX today
Metals prices were largely bullish in early trading on Monday, which could lift TSX mining stocks at the open today.
While no major economic releases are due this morning, Canada’s consumer inflation and U.S. manufacturing and existing home sales data are set for release later this week. Overall, TSX investors may approach Monday’s session with caution as they assess recent volatility and wait for clearer economic signals later in the week.
Market movers on the TSX today
