Canadian equities started the holiday-shortened week on a positive note with the help of overnight gains in commodity prices even as slightly hotter-than-expected domestic consumer inflation data drove Treasury bond yields higher. The S&P/TSX Composite Index rose 166 points, or 0.6%, on Tuesday to settle at 25,649.
Nearly all key market sectors ended the session in the green, but the TSX rally was mainly led by solid gains in healthcare, mining, and financial stocks.
Top TSX Composite movers and active stocks
BlackBerry, International Petroleum, Interfor, and MTY Food were the top-performing TSX stocks for the day, with each climbing by at least 4.5%.
Shares of Cargojet (TSX: CJT) also gained over 2% to $111.39 per share after announcing its upbeat fourth-quarter results. In the quarter ended December 2024, the Canadian air cargo services firm’s revenue jumped by 32.1% year over year to $293.2 million due partly to domestic network growth and an increase in its all-in Charter revenue.
With stronger top-line and improved aircraft utilization, Cargojet posted adjusted quarterly earnings of $1.71 per share, far better than its adjusted net loss of $0.14 per share a year ago. On a year-to-date basis, CJT stock is now up 3.3%.
In contrast, Fortuna Mining, Tilray, Canadian Tire, and Fortis slid by at least 2.7% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, Enbridge, Canadian Natural Resources, Suncor Energy, Veren, and Manulife Financial were the five most active stocks on the exchange.
TSX today
Metals prices, especially silver and copper, fell sharply in early Wednesday trading, which could put pressure on TSX mining stocks at the open today.
With no major domestic economic reports scheduled, Canadian investors may want to watch for the FOMC (Federal Open Market Committee) meeting minutes, set for release this afternoon.
As the corporate earnings season continues in full swing, several TSX-listed companies, including CCL Industries, OceanaGold, Alamos Gold, Lundin Mining, Nutrien, Whitecap Resources, New Gold, Triple Flag Precious Metals, Equinox Gold, Calibre Mining, Bausch Health, Manulife Financial, Ivanhoe Mines, Sienna Senior Living, TFI International, Innergex Renewable Energy, Crombie REIT, Pan American Silver, Osisko Gold, B2Gold, and Gildan Activewear, will announce their latest quarterly results today, which will keep their stocks in focus.
Market movers on the TSX today
