TSX Today: What to Watch for in Stocks on Thursday, November 21

Escalating geopolitical tensions and U.S. economic data remain on investors’ radar today as the TSX continues to hover above the 25,000 level.

| More on:
tsx today

Surging gold and natural gas prices helped Canadian stocks continue to trade positively on Wednesday, even as growing geopolitical tensions and recently released higher-than-expected consumer inflation data kept investors on edge. The S&P/TSX Composite Index added 26 points, or 0.1%, to close at 25,036, posting its third consecutive winning day.

Despite weakness in some sectors like consumer cyclicals, technology, and utilities, renewed buying in mining and energy stocks helped offset broader market softness.

Top TSX Composite movers and active stocks

Advantage Energy, Birchcliff Energy, CES Energy Solutions, and International Petroleum were the top-performing TSX stocks for the day, with each climbing by at least 4.7%.

Shares of Metro (TSX:MRU) also traded positively after the food and pharmacy retailer announced its better-than-expected quarterly earnings. In the quarter ended in September 2024, the Montréal-based firm’s adjusted revenue rose 5.7% year over year to $4.9 billion due to a rise in prescription drug, front-store, and online food sales.

Although higher costs for new automated distribution centres increased its operating expenses, better cost efficiency drove Metro’s adjusted quarterly earnings up by 3% from a year ago to $1.02 per share, surpassing analyst expectations of $0.99 per share. On a year-to-date basis, MRU stock is now up 27%.

On the flip side, Superior Plus, Energy Fuels, Aya Gold & Silver, and Dollarama slipped by over 3% each, placing them among the day’s worst performers on the Toronto Stock Exchange.

Based on their daily trade volume, Enbridge, Canadian Natural Resources, Manulife Financial, Suncor Energy, and Great-West Lifeco remained the five most active stocks on the exchange for a second consecutive session.

TSX today

Gold, silver, and natural gas prices were bullish early Thursday morning, pointing to a slightly higher opening for the TSX Composite Index as trading kicks off today.

While no major domestic economic releases are due, Canadian investors will closely monitor monthly existing home sales and manufacturing data from the United States, which could influence market sentiment and provide insights into broader economic trends.

Market movers on the TSX today

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Jitendra Parashar has positions in Canadian Natural Resources, Dollarama, and Enbridge. The Motley Fool recommends Canadian Natural Resources, Ces Energy Solutions, Enbridge, International Petroleum, and Superior Plus. The Motley Fool has a disclosure policy.

More on Stock Market

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Monday, November 25

With solid 5.3% gains in November so far, the TSX Composite Index is currently at record highs.

Read more »

Asset Management
Stock Market

3 of the Best Canadian Stocks to Buy Right Now

Are you looking for stocks that could be a major bargain right now? These three Canadian stocks could provide some…

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Friday, November 22

Continued gains in gold, oil, and natural gas prices could give the commodity-focused TSX benchmark a boost at the opening…

Read more »

Hourglass and stock price chart
Stock Market

It’s Not Too Late: Invest in These TSX Growth Stocks Now

Solid fundamentals of these top TSX growth stocks could help them maintain strong upward momentum in the years to come.

Read more »

Middle aged man drinks coffee
Stock Market

Top Canadian Stocks You Can Buy Now With Just $1,000

Undervalued Canadian stocks such as Lassonde and Jamieson Wellness trade at a sizeable discount to consensus price target estimates.

Read more »

Paper Canadian currency of various denominations
Stock Market

3 No-Brainer Stocks to Buy Right Now for Less Than $120

Here are three undervalued TSX stocks that are positioned to deliver outsized gains to shareholders over the next 12 months.

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Wednesday, November 20

Despite volatile commodity prices, the TSX Composite continues to trade above the 25,000 level as investors closely monitor updates related…

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Tuesday, November 19

Rebounding commodity prices could lift the TSX index at the open today as investors watch the latest domestic consumer inflation…

Read more »