Canadian stocks rose for the second consecutive session on Monday as U.S. president Donald Trump’s recent decision to exclude semiconductors and other critical imports from the tariff list lifted market sentiment and sparked optimism about a potential cooling in trade tensions. The S&P/TSX Composite Index climbed 279 points, or 1.2%, to settle at 23,867 — its highest closing level in over a week.
All main TSX sectors ended the day with gains, led by strong performances in consumer, real estate, and financial stocks.
Besides hopes of cooling trade dynamics, investor sentiment was also lifted by easing inflationary pressures in the U.S., which gave strength to expectations that the Federal Reserve will further cut interest rates.
Top TSX Composite movers and active stocks
Lundin Gold, First Majestic Silver, MAG Silver, and B2Gold were the top-performing TSX stocks for the day, with each surging at least 5.4%.
Manulife Financial (TSX:MFC) rose 2.5% to $39.94 per share on Monday, supported by positive investor sentiment following the announcement of a major milestone in its private markets business. MFC stock gained ground after Manulife Investment Management closed US$660 million in commitments for its latest private equity fund of funds, Manulife Private Equity Partners III, in partnership with Ardian.
This marks the third fund of its kind raised by Manulife as the firm continues expanding its private equity platform to meet growing demand from institutional investors. Despite the recent gains, MFC stock is still down about 10% year to date.
In contrast, Pason Systems, TFI International, Richelieu Hardware, and MDA Space slipped by at least 2.2% each, making them the session’s worst-performing stocks.
Based on their daily trade volume, Canadian Natural Resources, TD Bank, BCE, TC Energy, and Whitecap Resources were the most active stocks on the exchange.
TSX today
Commodity prices across the board were largely mixed early Tuesday morning, pointing to a potentially flat or mildly cautious opening for the TSX today.
In addition to the domestic consumer inflation report for March, Canadian investors will also continue to monitor developments on the global trade front, which could play an important role in shaping near-term market sentiment.
Market movers on the TSX today
