Rising commodity prices and largely better-than-expected corporate earnings helped Canadian stocks edge higher for the fourth consecutive session on Friday. The S&P/TSX Composite Index climbed by 104 points, or 0.4%, to 25,358 — its highest closing level in over two months.
Despite weakness in consumer and technology stocks, a strong rally in other sectors like mining, energy, and real estate drove the broader index higher. With this, the TSX benchmark ended the week with a 1.3% gain — marking its fifth consecutive winning week.
Top Composite movers and active stocks
Air Canada (TSX:AC) jumped by 14.6% to $17.54 per share, making it the top-performing TSX stock for the day. This rally came after the Canadian flag carrier announced plans to repurchase up to $500 million of its shares following the completion of its previous buyback of over 15 million shares.
Despite reporting an operating loss of $108 million for the first quarter, investors seemingly cheered Air Canada’s strong $1.5 billion in operating cash flow and disciplined capital strategy. Moreover, its adjusted quarterly net loss of $150 million was narrower than analysts’ expectations of a $178 million loss. Despite its recent rally, however, Air Canada stock is still down 21.2% on a year-to-date basis.
Lundin Gold, NFI Group, and Algonquin Power & Utilities were also among the top gainers on the Toronto Stock Exchange, with each soaring by at least 9.7%.
On the flip side, Pembina Pipeline, NGEx Minerals, Trisura, and Definity Financial slipped by at least 3.5% each, making them the day’s worst-performing TSX stocks.
Based on their daily trade volume, Enbridge, Air Canada, Whitecap Resources, Manulife Financial, and Telus were the five most active stocks on the exchange.
TSX today
TSX energy stocks could extend their gains at the open today as crude oil and natural gas prices continued to rise in early trading on Monday. In contrast, overnight losses in metals prices could pressure mining stocks. Overall, however, easing U.S.-China trade tensions could lift risk appetite and fuel broad gains on the TSX — especially in industrials, financials, and export-focused sectors.
This optimism follows a joint statement from Washington and Beijing pledging to suspend a combined 24 percentage points’ worth of tariff increases for 90 days and to remove several recent rounds of retaliatory duties. The agreement, reached during economic and trade talks in Geneva, also highlights a new bilateral framework for continued U.S.-China negotiations led by senior officials, reflecting a move toward greater stability in global trade relations.
On the corporate events side, several TSX-listed companies, including Exchange Income, Finning International, Constellation Software, K92 Mining, and Hudbay Minerals, will announce their latest quarterly results today, keeping their stocks in the spotlight.
Market movers on the TSX today
