Canadian equities climbed to a one-month peak in Monday’s intraday trading as investors welcomed the inauguration of Donald Trump as the 47th U.S. president and his decision to temporarily hold off on imposing new trade tariffs against Canada. Rising for the fifth consecutive session, the S&P/TSX Composite Index inched up by 104 points, or 0.4%, to settle at 25,172.
Despite lower volumes due to the U.S. market holiday, strong gains in several key market sectors, including mining, energy, and healthcare, lifted the TSX benchmark to its highest level in a month.
It’s noteworthy that energy stocks surged despite weakness in oil and gas prices after Trump signed an executive order intending to withdraw the U.S. from the Paris Climate Agreement, as this policy shift could favour traditional energy industries in the short term.
Top TSX Composite movers and active stocks
Bombardier, MEG Energy, TerraVest Industries, Athabasca Oil, and First Quantum Minerals were the top-performing TSX stocks for the day as they jumped by at least 4.7% each.
Shares of Capstone Copper (TSX:CS) also rose 3.1% to $9.09 per share, placing it among the top performers on the Toronto Stock Exchange. Interestingly, after the market closing bell, the Vancouver-based copper producer reported record consolidated copper production of 184,458 tonnes in 2024, up 12% year over year due partly to the ramp-up of its Mantoverde Development Project.
Capstone also forecasts copper production growth between 19% and 38% in 2025, targeting 220,000 to 255,000 tonnes. Moreover, the company expects a 10% to 20% decline in its 2025 C1 cash costs, which reflect its operating costs per unit. These important updates could keep CS stock in focus today as investors digest Capstone Copper’s positive production and cost guidance for 2025.
On the flip side, Kinaxis fell by 1.8% yesterday, making it the session’s worst-performing TSX stock.
Based on their daily trade volume, Canadian Natural Resources, Calibre Mining, Royal Bank of Canada, Baytex Energy, and Cenovus Energy were the five most active stocks on the exchange.
TSX today
Crude oil, gold, and silver prices trended higher early Tuesday morning, which could provide a boost to TSX energy and mining stocks at the open today.
In addition to the domestic consumer inflation report for December, Canadian investors will keep a close eye on the reopening of U.S. markets and any developments regarding global trade policies under the new U.S. administration.
On his first day in the Oval Office, Trump directed a review of the USMCA’s (United States-Mexico-Canada Agreement) impact and initiated consultations for its 2026 review, which could influence tariffs or trade terms with Canada. This review is likely to introduce some uncertainty for Canadian export-dependent businesses with U.S. trade exposure.
Market movers on the TSX today
