Canadian stocks went sideways on Thursday as investors continued to assess the U.S. Federal Reserve’s economic projections and weighed the Trump administration’s policy direction regarding global trade and tariffs. A day after posting its largest single-day points gain in over 15 months, the S&P/TSX Composite Index slipped by nine points to 25,060 but still maintained a strong 2.1% week-to-date gain.
Although rebounding crude oil prices drove energy stocks higher, weakness in most other key sectors, including consumer cyclicals, technology, and mining, kept the broader index in check.
Top TSX Composite movers and active stocks
BRP (TSX: DOO) dived by 4.1% to $53.20 per share, making it one of the worst-performing TSX stocks for the day. This selloff came after Citigroup downgraded its rating on DOO stock and slashed the target price from $70 per share to $41 per share, citing economic uncertainty amid tariff threats.
Notably, BRP is set to release its fiscal 2025 (ended in January) earnings report next week on March 26. Street analysts expect the company to report a net profit of $315 million for the year with $7.73 billion in revenue. On a year-to-date basis, DOO stock is currently down 27.3%.
CGI, First Quantum Minerals, and Lundin Gold were also among the session’s bottom performers on the Toronto Stock Exchange, with each diving by at least 3.4%.
In contrast, Celestica, MDA Space, SECURE Waste Infrastructure, and Orla Mining climbed by at least 3.6% each, making them the day’s top-performing TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, Cenovus Energy, Whitecap Resources, Enbridge, and TC Energy were the five most active stocks on the exchange.
TSX today
After reaching a record high in the previous session, spot gold prices trended downward in early trading on Friday, which could put pressure on TSX-listed mining stocks at the open today.
In addition to the domestic monthly retail sales data, Canadian investors will continue to watch any new trade headlines out of the U.S. for clues on cross-border economic risks.
On the corporate events side, the Canadian specialty food manufacturer Premium Brands will announce its latest quarterly results on March 21. Bay Street analysts expect it to post December quarter earnings of $0.97 per share with $1.6 billion in quarterly revenue.
Market movers on the TSX today
