The Canadian stock market stayed in positive territory for a third straight day, backed by rebounding crude oil prices and optimism over the U.S.-U.K. trade deal. The S&P/TSX Composite Index climbed by 93 points, or 0.4%, on Thursday to settle at 25,254 — reaching its highest closing level in five weeks.
Even as some sectors like consumer staples and mining traded on a weak note, solid gains in technology, consumer cyclical, and industrial stocks helped propel the broader index higher.
The U.S.-U.K. trade deal: Hope for Canada?
The White House said the broad agreement, announced by U.S. president Donald Trump and U.K. prime minister Keir Starmer, could unlock billions in fresh market opportunities for U.S. exporters — a move investors see as a possible tailwind for global trade.
This development also raised hopes that the Trump administration may pursue more trade deals with other key partners, including Canada, which could reduce trade friction and boost cross-border investment flows.
Top Composite movers and active stocks
OceanaGold (TSX:OGC) jumped by 12.6% to $5.73 per share, making it the top-performing TSX stock for the day. This rally in OGC stock came a day after the Vancouver-based gold and copper producer announced its significantly stronger-than-expected first-quarter earnings.
In the quarter ended March 2025, OceanaGold’s gold production rose 12% year over year to 117,400 ounces and adjusted earnings hit US$0.14 per share, crushing analysts’ expectations of US$0.08 per share. The company’s all-in sustaining costs came in below its full-year guidance, while its free cash flow surged to US$69 million, boosting its cash balance by 18% from a year ago. On a year-to-date basis, OGC stock now trades with a solid 44% gain.
Algoma Steel, Linamar, and Cenovus Energy also soared by more than 9% each, making them among the day’s top gainers on the Toronto Stock Exchange.
On the flip side, Fortuna Mining, First Majestic Silver, Calibre Mining, and Equinox Gold were the session’s worst-performing TSX stocks, with each diving by at least 8.1%.
Based on their daily trade volume, Suncor Energy, Enbridge, Canadian Natural Resources, Manulife Financial, and Cenovus Energy were the five most active stocks on the exchange.
TSX today
Commodity prices across the board were mixed in early trading on Friday, suggesting a muted open for the TSX today.
While no major economic releases from the U.S. are due, Canadian investors will monitor April’s domestic employment change and unemployment rate data this morning. Overall, with a 0.9% week-to-date gain, the TSX index seems on track to end the fifth consecutive week in the green.
On the corporate events side, many TSX-listed companies, including Orla Mining, NGEx Minerals, Algonquin Power & Utilities, Telus, Enbridge, Onex, and Veren, will release their first-quarter earnings reports today, which could keep these stocks in the spotlight.
Market movers on the TSX today
