Canadian equities continued to climb for the second day in a row on Thursday as investors shook off concerns over a potential increase in U.S. tariffs on Canadian exports and instead focused on growing indications of more rate cuts in the near term. Even as U.S. markets remained closed for Thanksgiving, the S&P/TSX Composite Index climbed by 55 points, or 0.2%, to settle at 25,544, posting a new closing record.
While all key market sectors ended the session in the green, the market rally was mainly driven by solid gains in healthcare, real estate, and industrial stocks. With this, the TSX benchmark now trades with 0.4% week-to-date gains.
Top TSX Composite movers and active stocks
Shares of Energy Fuels (TSX:EFR) jumped by 3.7% to $9.91 per share, positioning it among the top-performing TSX stocks for the day. This rally in EFR stock came after the Madagascar government lifted the suspension on its Toliara critical minerals project, ending a restriction that had been in place since 2019.
This decision will allow Energy Fuels to restart the development of the Toliara project, which includes titanium, zirconium, and rare earth elements. The mining company targets a positive financial investment decision by early 2026. The move is expected to accelerate Energy Fuels’ efforts in processing rare earth elements at its U.S. facility and could boost investors’ confidence. Notably, EFR stock has surged over 55% over the last three months.
Bausch Health Companies, ATS, and Orla Mining were also among the session’s top performers on the Toronto Stock Exchange, with each advancing by at least 2.7%.
On the flip side, Aya Gold & Silver, Saputo, and Lightspeed Commerce slipped by 1.5% each, making them the worst-performing TSX stocks for the day.
Based on their daily trade volume, Great-West Lifeco, Suncor Energy, Sun Life Financial, Enbridge, and Canadian Natural Resources were the five most active stocks on the exchange.
TSX today
Precious metals prices rose sharply in early morning trading on Friday, which could lift TSX-listed gold and silver stocks at the open today.
While the U.S. markets will close early this afternoon due to the post-Thanksgiving holiday schedule, TSX investors may want to keep a close eye on Canada’s latest budget balance and GDP (gross domestic product) growth data likely to be released this morning. This data could shed light on the strength of the Canadian economy and give further direction to the market.
Market movers on the TSX today
