Canadian equities climbed for the third straight session on Tuesday as weaker-than-expected domestic consumer inflation figures and growing hopes of easing trade tensions supported investor sentiment. The S&P/TSX Composite Index rose by 201 points, or 0.8%, to settle at 24,068 — extending its three-day gains to 4.6%.
Nearly all key market sectors continued to attract buying, with robust gains in healthcare, real estate, and technology stocks as investors positioned for a potentially more accommodative interest rate environment ahead of the Bank of Canada’s (BoC) upcoming rate decision.
Top TSX Composite movers and active stocks
Bausch Health Companies (TSX:BHC) inched up by over 5% to $6.32 per share, making it the top-performing TSX stock for the day. This rally in BHC stock came after the company announced the adoption of a shareholder rights plan to protect investor interests in the event of an unsolicited takeover attempt.
Notably, Bausch Health clarified that the move was not in response to any existing or rumoured acquisition offer. The rights plan will require shareholder ratification within six months, reflecting a proactive governance step often viewed positively by investors looking for stability and transparency in corporate control matters. On a year-to-date basis, BHC stock is still down 46%.
Sandstorm Gold, Enerflex, and South Bow were also among the top gainers on the Toronto Stock Exchange, with each climbing by at least 4%.
In contrast, BRP, Pet Valu, Ero Copper, and Spin Master slipped by 2.6% each, making them the day’s worst-performing TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, TD Bank, TC Energy, Royal Bank of Canada, and Cenovus Energy were the five most active stocks on the exchange.
TSX today
Gold and silver prices were trading on a firm note in early trading on Wednesday, but West Texas Intermediate crude oil futures prices declined further. Given these mixed commodity trends, the TSX could see a more balanced opening today.
Besides the Federal Reserve chair Jerome Powell’s speech on the economic outlook, Canadian investors will closely monitor BoC’s latest monetary policy report, interest rate decision, and press conference this morning. The Canadian central bank is widely expected to hold rates steady, but market participants will be focused on any changes in tone regarding inflation risks and economic momentum.
On the corporate events side, the TSX-listed food and pharmacy retailer Metro will announce its latest quarterly results today. Bay Street analysts expect the company to post earnings of $1.02 per share for the March quarter with $4.86 billion in revenue.
Market movers on the TSX today
