Canadian equities remained in the red for a second straight session on Friday, pressured by labour market data and mixed corporate earnings that signalled economic uncertainty. The S&P/TSX Composite Index slipped by 92 points, or 0.4%, to settle at 25,443.
While nearly all key sectors ended the session in negative territory, the broader market selloff was mainly led by heavy losses in healthcare and technology stocks. With a nearly 0.4% drop for the week, the TSX benchmark ended its three-week winning streak.
Top TSX Composite movers and active stocks
OpenText (TSX: OTEX) dived by nearly 6% to $39.77 per share, making it one of the worst-performing TSX stocks of the day. This weakness in OTEX stock came a day after the Waterloo-based information management firm announced its quarterly financial results.
In the quarter ended in December 2024, OpenText’s sales plunged by 13.1% year over year to US$1.33 billion as its license revenue tanked by 34.7%. Although the company’s adjusted quarterly earnings figure of US$1.11 per share exceeded Street analyst expectations, investors seemed worried about its elevated debt levels and high exposure to the U.S. dollar. Over the last 12 months, OTEX stock has lost 28% of its value.
BCE, Tilray, and NovaGold Resources were also among the day’s bottom performers on the Toronto Stock Exchange, with each falling by at least 4.6%.
On the flip side, ARC Resources, OceanaGold, Bombardier, and Lightspeed Commerce climbed by at least 4% each, making them the session’s top-performing TSX stocks.
Based on their daily trading volume, Enbridge, Manulife Financial, Suncor Energy, BCE, and Telus were the five most active stocks on the exchange.
TSX today
Commodity prices across the board were bullish early Monday morning after U.S. president Donald Trump, on Sunday, told reporters that he’ll announce new 25% tariffs on all steel and aluminum imports, escalating trade tensions and raising concerns over the potential impact on Canadian metal exports. That’s why the main TSX index could remain volatile at the open today as investors await more details on the proposed tariffs and their potential implications for Canadian industries.
While no major domestic economic releases are due, Canadian investors will closely monitor the U.S. Federal Reserve Chair Jerome Powell’s testimony before Congress for any indications of the central bank’s stance regarding interest rates and inflation.
On the corporate events front, TSX-listed PrairieSky Royalty and CT Real Estate Investment Trust will announce their latest quarterly results today after the market closing bell.
Market movers on the TSX today
