Canadian equities fell sharply on Friday after hotter-than-expected U.S. personal consumption expenditure data made investors worried while temporarily clouding the outlook for rate cuts. As investors also continued to assess global trade tensions, the S&P/TSX Composite Index dived by 402 points, or 1.6%, to settle at 24,759 — marking its largest single-day percentage decline in over three weeks.
Although utility stocks witnessed renewed buying interest due to their defensive appeal, it wasn’t enough to offset broader losses across technology, healthcare, and industrials.
Top TSX Composite movers and active stocks
Aya Gold & Silver (TSX:AYA) tanked by around 16% to $10.80 per share, making it the worst-performing TSX stock for the day. This selloff in AYA stock came after the Canadian metal producer announced its fourth-quarter and full-year 2024 results. In 2024, the company’s silver production fell 16% year over year due to expansion-related disruptions to 1.65 million ounces but was in line with its revised guidance.
Lower production drove Aya Gold & Silver’s yearly revenue down by 9% from a year ago, while its adjusted cash costs rose sharply by 57%, hurting investor sentiment. Nonetheless, the miner expects silver output to rise to 5.0-5.3 million ounces in 2025 at lower costs of $15.00-$17.50/oz as operations stabilize and shift toward more cost-efficient open-pit mining.
B2Gold, Energy Fuels, Ero Copper, and TFI International were also among the day’s bottom performers on the Toronto Stock Exchange, with each plunging by at least 6.2%.
On the flip side, Jamieson Wellness and G Mining Ventures climbed by at least 3.2% each, making them the session’s top-performing TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, TC Energy, Canadian Imperial Bank of Commerce, Power Corporation of Canada, and TD Bank were the five most active stocks on the exchange.
TSX today
As global trade uncertainties continue, gold prices surged to a fresh record high in early trading on Monday, while most other commodities were mixed. I expect the resource-heavy TSX to remain under pressure at the open today, despite strength in gold prices, as broader concerns about rate policy and global trade tensions continue to weigh on market sentiment.
While no major economic releases are due this morning, stocks on both sides of the border could face increased volatility this week as Trump’s reciprocal tariffs are set to kick in.
Market movers on the TSX today
