Canadian equities traded positively for a second consecutive session on Thursday, despite lighter volumes due to the U.S. market holiday, as strengthening metals prices contributed to the market’s upward momentum. The S&P/TSX Composite Index rose 22 points for the day to settle at 25,073.
While economic and geopolitical uncertainties pressured utility and industrial stocks, strong gains in other sectors, such as healthcare and mining, provided enough momentum to keep the TSX moving higher for another session.
Top TSX Composite movers and active stocks
Lundin Gold, Capstone Copper, Equinox Gold, and First Quantum Minerals were the top-performing TSX stocks, with each inching up by more than 4%.
In contrast, NFI Group, Bombardier, Richelieu Hardware, and Innergex Renewable Energy slid by at least 1.9%, making them the session’s worst-performing TSX stocks.
Boralex (TSX:BLX) told investors that it has secured $172 million in financing for the 80-megawatt and 320-megawatt-hour Tilbury Battery Storage project in partnership with Walpole Island First Nation. The project’s commercial operations are expected to start in late 2025.
The financing includes a $120 million construction loan, a $45 million bridge loan to finance investment tax credits, and a $7 million letter of credit facility. Despite this news, however, BLX stock slipped by 1.5% to $27 per share yesterday as investors appeared concerned about broader market pressures on renewable energy stocks.
Based on their daily trade volume, TD Bank, Bank of Nova Scotia, Enbridge, Telus, and BCE were the five most active stocks on the Toronto Stock Exchange.
TSX today
Commodity prices across the board were trading on a strong note early Friday, pointing to a higher opening for the TSX’s mining and energy sectors today.
Canadian investors will closely monitor domestic employment data and the U.S. December jobs report, both of which could influence market direction.
Aritzia, which announced its upbeat November quarter earnings after the market closing bell on Thursday, could remain in focus today. Aritzia’s continued focus on real estate expansion and accelerated momentum in e-commerce helped the Canadian retailer post adjusted quarterly earnings of $0.71 per share, beating estimates.
The TSX-listed Tilray Brands will announce its latest quarterly results today. Analysts expect the cannabis giant to post a net loss of US$33.6 million for the November quarter, with US$216.8 million in revenue.
Market movers on the TSX today
