Canadian stocks traded on a positive note before going into the new year’s break as investors expressed confidence in the economy’s resilience and growth prospects for 2025. The S&P/TSX Composite Index climbed by 107 points, or 0.4%, on Tuesday to settle at 24,728.
While all key sectors ended the session in green, the market rally was mainly driven by solid gains in healthcare, real estate, and energy stocks. With this, the TSX Composite benchmark ended the year on a solid note, with an 18% increase — delivering its best performance in three years.
Top TSX Composite movers and active stocks
Brookfield Business Partners, Parex Resources, Cargojet, and Baytex Energy were the top-performing TSX stocks for the day, with each inching up by over 5%.
Shares of SSR Mining (TSX: SSRM) also climbed by 2% to $10.04 per share, making it among the day’s top performers on the Toronto Stock Exchange. This rally in SSRM stock came after the precious metals miner announced that its Marigold Mine in Nevada reached a milestone of five million ounces of gold production as of December 30.
SSR highlighted the mine’s 35-year history of continuous operation and its remaining nearly three million ounces of mineral reserves, which support a mine life of at least nine more years. In 2024, the company invested US$10 million to extend the Marigold Mine’s lifespan and boost future production. Despite recent optimism, however, SSRM stock ended 2024 with a 29.4% drop.
In contrast, Tilray Brands and Denison Mines slipped by at least 1.9% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, TC Energy, Toronto-Dominion Bank, Canadian Natural Resources, Power Corporation of Canada, and Bank of Nova Scotia were the five most active stocks on the exchange.
TSX today
Crude oil, gold, and silver prices were bullish early Thursday morning, pointing to a slightly higher open for the commodity-heavy TSX index today and setting a positive tone for the market to build on its strong close to 2024.
While no major domestic economic releases are due, Canadian investors may want to keep an eye on the monthly manufacturing, weekly jobless claims, and crude oil stockpile data from the United States this morning. Overall, financials and real estate remain sectors to watch in early 2025 as macroeconomic trends evolve.
Market movers on the TSX today
