Despite a surge in commodity prices, Canadian equities fell sharply on Friday after investors reacted to robust jobs reports from both Canada and the United States, which prompted fears that central banks may keep interest rates elevated longer than anticipated. The S&P/TSX Composite Index dived by 306 points, or 1.2%, to settle at 24,768 — marking its worst single-day performance in over three weeks.
Nearly all key sectors ended the session in the red, but big losses in healthcare, financials, and technology stocks mainly drove the TSX selloff.
Top TSX Composite movers and active stocks
Tilray Brands (TSX:TLRY) tanked by over 12% to $1.75 per share, making it the worst-performing TSX stock for the day. These massive declines in TLRY stock came after the cannabis giant posted a much wider-than-expected loss for the November 2024 quarter.
Last quarter, Tilray’s quarterly revenue reached a record US$211 million with the help of growth across all four business segments. However, non-cash expenses of US$75 million and non-recurring costs of US$8 million drove its net loss to US$85 million, against analysts’ expectations of a US$33.6 million loss. TLRY stock now trades with 8% year-to-date losses.
Brookfield Corporation, Capstone Copper, and Brookfield Asset Management were also among the bottom performers on the Toronto Stock Exchange, with each sliding by at least 5.6%.
On the flip side, Aritzia (TSX:ATZ) popped by over 19% to $67.86 per share a day after announcing its upbeat quarterly earnings. In the third quarter (ended in November 2024) of its fiscal year 2025, the Vancouver-based apparel retailer’s adjusted earnings jumped by 51% to $0.71 per share due partly to fewer markdowns, improved product margins, and lower warehousing costs.
Maple Leaf Foods, Gildan Activewear, and Lundin Gold were also among the top-performing TSX stocks as they inched up by at least 3% each.
Based on their daily trade volume, TD Bank, Canadian Natural Resources, Suncor Energy, Baytex Energy, and Bank of Nova Scotia were the five most active stocks on the exchange.
TSX today
West Texas Intermediate crude oil futures prices jumped in early morning trading on Monday, which could lift TSX energy stocks at the open today.
While no major economic releases are due this morning, investors will likely continue to digest last week’s strong jobs data, which could result in continued market volatility as traders reassess the path for interest rates.
On the corporate events side, the TSX-listed Cogeco Communications will announce its November quarter earnings today after the market closing bell. Street analysts expect the company to report earnings of $2.04 per share with $742.7 million in quarterly revenue.
Market movers on the TSX today
