The Canadian stock market fell for the sixth consecutive session on Thursday as investors weighed the implications of the U.S. Federal Reserve’s cautious outlook on future rate cuts and persistent inflation concerns. The S&P/TSX Composite Index gave up 143 points, or 0.6%, to close at 24,414, marking its longest losing streak in over a year.
Although most key sectors ended the session in red, heavy losses in technology, real estate, and industrial stocks weighed heavily on the broader index, with continued losses in energy and materials adding to investors’ worries.
Top TSX Composite movers and active stocks
Cargojet, Aya Gold & Silver, NuVista Energy, and Allied Properties REIT were the worst-performing TSX stocks for the day, with each diving by at least 3.3%.
On the flip side, Birchcliff Energy, Superior Plus, Orla Mining, and BRP inched up by more than 3% each, making them the session’s top gainers on the Toronto Stock Exchange.
Shares of Vermilion Energy (TSX:VET) also climbed by 2.1% to $12.75 per share after making some important operational announcements. For 2025, the Calgary-based energy producer expects its capital budget to be in the range of $600 to $625 million and targets production growth of 2% at the midpoint with guidance of 84,000–88,000 barrels of oil equivalent per day.
Vermilion increased its quarterly dividend by 8% to $0.13 per share, starting from the first quarter of 2025, which reflects its strong free cash flow projections of $400 million next year. The company also reported positive results from its second deep gas exploration well in Germany, signaling strong potential for long-life European production. Despite the recent optimism, however, VET stock is still down 20% on a year-to-date basis.
Based on their daily trade volume, Canadian Natural Resources, Enbridge, Toronto-Dominion Bank, Suncor Energy, and Canadian Imperial Bank of Commerce were the five most active stocks on the exchange.
TSX today
West Texas Intermediate crude oil futures prices continued to decline for the fifth consecutive session in early morning trading on Friday, which could pressure TSX energy stocks at the open today.
In addition to domestic budget balance and retail sales numbers, Canadian investors will closely monitor the important personal consumption expenditure (PCE) data from the United States this morning. As the Federal Reserve closely watches the PCE data to assess inflation trends, it may provide further clues about the U.S. central bank’s next moves on monetary policy and influence market sentiments.
Market movers on the TSX today
