Rising commodity prices, upbeat corporate earnings, and optimism surrounding the Bank of Canada’s recent rate cut lifted the Canadian stock market to a fresh all-time high on Thursday. The S&P/TSX Composite Index jumped by 335 points, or 1.3%, to settle at 25,808 — registering its biggest single-day percentage gain in over two months.
While all key sectors ended the session in the green, the rally was mainly led by solid advances in mining, technology, and healthcare stocks.
Top TSX Composite movers and active stocks
Celestica (TSX: CLS) soared by 14.3% to $165.78 per share, making it the top-performing TSX stock for the day. This rally in CLS stock came a day after the Toronto-based electronics manufacturing firm announced its better-than-expected fourth-quarter results.
In the quarter ended December 2024, Celestica’s total revenue rose 18.9% year over year to $2.55 billion due mainly to high demand for the cloud and enterprise infrastructure. Improved operating margins also helped the company post a solid 46% jump in its adjusted quarterly earnings to $1.11 per share, surpassing Street analysts’ expectations. On a year-to-date basis, CLS stock is now up 25%.
Fortuna Mining, First Majestic Silver, Tilray, and SilverCrest Metals were also among the day’s top performers on the Toronto Stock Exchange, with each surging by at least 7.8%.
On the flip side, Cargojet and Aecon Group slid by at least 2.5% each, making them the session’s worst-performing TSX stocks.
According to the exchange’s daily trade volume data, Enbridge, TD Bank, Canadian Natural Resources, Suncor Energy, and Manulife Financial were the five most active stocks.
TSX today
After staging a rally in the previous session, crude oil and base metals prices traded on a bearish note early Friday morning, which could pressure the commodity-heavy main TSX index at the open today.
In addition to Canada’s budget balance and GDP (gross domestic product) growth numbers, investors will closely monitor the U.S. personal consumption expenditure data this morning, which could give further direction to stocks. Overall, the TSX index seems on track to end the third consecutive week in positive territory, as it is up 1.3% for the week.
On the corporate events front, TSX-listed Imperial Oil, Brookfield Business Partners, and Brookfield Renewable Partners will announce their latest quarterly results today.
Market movers on the TSX today
