Canadian stocks climbed to new highs for a second straight session on Tuesday as significantly stronger-than-expected U.S. consumer confidence, and Trump’s tariff delay on Europe boosted investors’ confidence. The S&P/TSX Composite Index jumped by 196 points, or 0.8%, to settle at 26,269 — marking a fresh all-time high for the market benchmark.
Despite weakness in commodity prices, nearly all major sectors finished the day in the green, with technology, real estate, and healthcare stocks leading the TSX rally.
Top TSX Composite movers and active stocks
InterRent REIT (TSX: IIP.UN) surged by nearly 15% to $13.59 per unit, making it the top-performing TSX stock for the day. These gains came after the real estate investment trust (REIT) announced its acquisition by CLV Group and GIC in a $4 billion all-cash deal, offering unitholders $13.55 per unit — reflecting a 35% premium to its pre-rumour price.
The news of a guaranteed premium payout and the opportunity for InterRent to solicit superior offers during a 40-day “go-shop” period cheered investors. In addition, this deal, which is expected to close in late 2025 or early 2026, highlights the strong demand for high-quality residential rental assets in Canada’s urban markets. Year to date, InterRent stock is now up by around 34%.
BlackBerry, Killam Apartment REIT, and Canadian Apartment Properties REIT were also among the day’s top gainers on the Toronto Stock Exchange, with each climbing by at least 5.3%.
On the flip side, NGEx Minerals, Advantage Energy, Energy Fuels, and Celestica slid by at least 2.9% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, Manulife Financial, Canadian Natural Resources, Suncor Energy, Enbridge, and Ivanhoe Mines were the five most active stocks on the exchange.
TSX today
Crude oil, gold, and silver prices were largely bullish in early morning trading on Wednesday, which could lift the resource-heavy main TSX index at the open today.
While no major domestic economic releases are due this morning, Canadian investors may want to keep an eye on the latest Federal Open Market Committee meeting minutes this afternoon, which could provide fresh insights into the Fed’s interest rate outlook and influence global market sentiment.
On the corporate events front, many TSX-listed companies, including ATS, EQB, Bank of Montréal, and National Bank of Canada, will announce their latest quarterly results today.
Market movers on the TSX today
