TSX Today: What to Watch for in Stocks on Tuesday, March 11

With no major domestic economic data expected, broader market sentiment, commodity price movements, and trade-related developments will likely dictate the TSX’s direction today.

Jitendra Parashar

Author Bio Jitendra Parashar is a financial journalist who has been writing for The Motley Fool Canada since June 2020. With more than 13 years of experience in financial journalism, equity research, and market analysis, he helps investors understand market developments and identify long-term investment opportunities. Before joining The Motley Fool Canada, Jitendra spent several years at Market Realist covering U.S. equities, major economic developments, and developments in the automotive and technology industries. He also worked in commodity and currency research at brokerage firms, gaining insight into how economic trends, central bank decisions, and geopolitical events influence financial markets. Jitendra writes for beginner investors, dividend seekers, and Canadians looking to build wealth over the long term. He also contributes to the daily TSX Today series, explaining key Canadian market developments and highlighting news investors should watch. Based in India, Jitendra follows Canadian and U.S. markets closely. Outside of work, he enjoys travelling in the Himalayas, street and nature photography, and exploring programming and artificial intelligence. Education MBA in Finance and International Business Bachelor's degree in Journalism Areas of Expertise Canadian and U.S. financial markets, long-term equity investing, dividend investing, macroeconomic and geopolitical trends, automotive stocks, emerging technologies, and artificial intelligence. Social Media Profiles LinkedIn Muck Rack Favorite Investment Quote “Simplicity is the master key to financial success.” — John C. Bogle

Published March 11, 2025 9:00 am EDT

Following a day of relief, selling pressure returned to the Canadian stock market on Monday as investors reacted to ongoing economic uncertainties, trade conflicts, and geopolitical risks. After diving by 2.5% last week, the S&P/TSX Composite Index gave up another 378 points, or 1.5%, to 24,381 — its lowest closing level in over four months.

On the one hand, utility stocks provided some stability as investors sought defensive positions amid market uncertainty. On the other hand, most other sectors ended the session in red, with technology, mining, real estate, and industrial stocks posting heavy losses.

Top TSX Composite movers and active stocks

Veren (TSX: VRN) jumped by 16% to $8.19 per share after announcing after announcing its $15 billion all-stock merger with Whitecap Resources (TSX: WCP). The deal, expected to close before May 30, will create the largest Alberta Montney and Duvernay landholder with a combined production of 370,000 barrels of oil equivalent per day.

VRN investors reacted positively to the Veren-Whitecap strategic merger news, which is projected to generate over $200 million in annual synergies. In contrast, Whitecap stock tanked by 14.5% to $7.99 per share as investors appeared to weigh potential share dilution and integration risks. On a year-to-date basis, VRN stock is now up 11% while WCP stock is down 22%.

South Bow, Keyera, and MDA Space were also among the day’s top gainers on the Toronto Stock Exchange, with each climbing by at least 3.5%.

In addition to Whitecap Resources, shares of Algoma Steel, Methanex, and Capstone Copper tanked by at least 11% each, positioning them among the session’s worst-performing TSX stocks.

Based on their daily trade volume, Veren, Whitecap Resources, Suncor Energy, Manulife Financial, and Canadian Natural Resources were the five most active stocks on the exchange.

TSX today

Spot gold and West Texas Intermediate crude oil futures prices showed minor recovery in early trading on Tuesday, which could provide some support for TSX mining and energy stocks at the open today.

While no major domestic economic releases are due, Canadian investors will closely monitor the monthly job openings data from the United States this morning, which could influence market sentiment.

On the corporate events side, TSX-listed companies Peyto Exploration & Development, Labrador Iron Ore Royalty, and Transcontinental will announce their latest quarterly results today after the market closing bell, keeping their stocks in focus.