Canadian equities started the new week on a positive note as investors shrugged off early commodity weakness and focused instead on federal election outcomes and a wave of upcoming corporate earnings. The S&P/TSX Composite Index climbed by 88 points, or 0.4%, on Tuesday to settle at 24,799 — its eighth gain in the past 10 sessions.
Despite weakness in healthcare stocks, solid gains in most other key sectors like technology, energy, and financials guided the broader market higher.
Top TSX Composite movers and active stocks
Denison Mines, NexGen Energy, Aecon Group, and SSR Mining were the top-performing TSX stocks, with each rising by at least 3.2%.
Shares of Bank of Nova Scotia (TSX: BNS) also traded positively after the lender announced it expects a net income contribution of approximately $62 million from its ownership interest in KeyCorp for the second quarter of 2025.
Adjusting for the impact of amortizing acquired intangible assets, this contribution could lift to around $71 million, helping support Scotiabank’s earnings momentum before its next quarterly release, scheduled for May 27. However, BNS stock is still down 12% on a year-to-date basis.
In contrast, Tilray, Lundin Gold, First Quantum Minerals, and Lundin Mining slipped by at least 2.5% each, making them the day’s worst-performing TSX stocks.
Based on their daily trade volume, TD Bank, Enbridge, TC Energy, Manulife Financial, and Royal Bank of Canada were the five most active stocks on the exchange.
TSX today
Crude oil, gold, and silver prices trended downward in early morning trading on Tuesday, which could pressure the commodity-heavy main TSX index at the open today.
Meanwhile, Prime Minister Mark Carney’s Liberal Party secured a federal election victory, which may provide some short-term stability for Canadian markets. However, lingering uncertainty about whether the Liberals will form a majority or minority government could keep broader investor sentiment somewhat cautious in the near term.
Besides domestic political developments, the latest U.S. consumer confidence and job openings data will also remain on TSX investors’ radar today.
On the corporate events front, several TSX-listed companies, including New Gold, Badger Infrastructure, Algoma Steel, and Gildan Activewear, will announce their latest quarterly results on April 29, which will keep their stocks in the spotlight as earnings season gains momentum.
Market movers on the TSX today
