TSX Today: What to Watch for in Stocks on Tuesday, May 20

After rallying for six straight weeks, the TSX Composite Index is currently trading at its historic highs.

Jitendra Parashar

Author Bio Jitendra Parashar is a financial journalist who has been writing for The Motley Fool Canada since June 2020. With more than 13 years of experience in financial journalism, equity research, and market analysis, he helps investors understand market developments and identify long-term investment opportunities. Before joining The Motley Fool Canada, Jitendra spent several years at Market Realist covering U.S. equities, major economic developments, and developments in the automotive and technology industries. He also worked in commodity and currency research at brokerage firms, gaining insight into how economic trends, central bank decisions, and geopolitical events influence financial markets. Jitendra writes for beginner investors, dividend seekers, and Canadians looking to build wealth over the long term. He also contributes to the daily TSX Today series, explaining key Canadian market developments and highlighting news investors should watch. Based in India, Jitendra follows Canadian and U.S. markets closely. Outside of work, he enjoys travelling in the Himalayas, street and nature photography, and exploring programming and artificial intelligence. Education MBA in Finance and International Business Bachelor's degree in Journalism Areas of Expertise Canadian and U.S. financial markets, long-term equity investing, dividend investing, macroeconomic and geopolitical trends, automotive stocks, emerging technologies, and artificial intelligence. Social Media Profiles LinkedIn Muck Rack Favorite Investment Quote “Simplicity is the master key to financial success.” — John C. Bogle

Published May 20, 2025 9:00 am EDT

Canadian stocks rose for the ninth consecutive session on Friday before going into the long Victoria Day weekend as recent signs of cooling inflationary pressures and easing trade tensions continued to support investor sentiment. The S&P/TSX Composite Index gained 74 points, or 0.3%, to close at 25,972 — marking a fresh record high.

Despite minor weakness in commodity-linked stocks, strong gains in other sectors like healthcare, consumer, and real estate helped lift the broader index. Notably, with 2.4% weekly advances, the TSX benchmark posted its sixth straight winning week.

Top TSX Composite movers and active stocks

MEG Energy (TSX: MEG) soared by nearly 19% to $25.29 per share, making it the top-performing TSX stock for the day. This rally in MEG stock came after the Calgary-based oil sands producer confirmed that Strathcona Resources intends to launch an unsolicited offer to acquire all outstanding MEG shares not already owned by Strathcona or its affiliates.

While no formal bid has yet been made, the news sparked speculation of a takeover at a potential premium, driving strong investor interest. MEG’s board stated it would review any formal offer when received and advised shareholders to take no action until an official recommendation is provided. On a year-to-date basis, MEG stock is up 7.2%.

Tilray, Athabasca Oil, and AtkinsRéalis Group were also among the top gainers on the Toronto Stock Exchange, with each climbing by at least 4.6%.

In contrast, South Bow, Ero Copper, Capstone Copper, and Denison Mines slipped by at least 3.3%, making them the day’s worst-performing TSX stocks.

Based on their daily trade volume, Enbridge, Manulife Financial, Canadian Natural Resources, Whitecap Resources, and MEG Energy were the five most active stocks on the exchange.

TSX today

Commodity prices across the board were mixed in early trading on Tuesday, pointing to a potentially subdued open for the resource-heavy TSX index today.

With no major U.S. economic releases scheduled, Canadian investors will closely monitor the domestic consumer inflation report this morning, which could provide fresh clues about the Bank of Canada’s interest rate trajectory.

On the corporate events front, the TSX-listed NexGen Energy will host its first-quarter conference call today. The call will focus on updates from its senior leadership on the development of the company’s flagship Rook I uranium project.