Canadian stocks notched another fresh record high on Friday as investors reacted positively to stronger-than-expected May jobs data on both sides of the border, boosting confidence in the resilience of North American labour markets. The S&P/TSX Composite Index climbed 87 points, or 0.3%, to close at 26,429, marking its highest-ever finish.
Even as a pullback in gold and copper prices led to weakness in mining stocks, strong gains in most other key market sectors, including technology, healthcare, and financials, helped keep the broader index in positive territory.
Top TSX Composite movers and active stocks
Enghouse Systems (TSX: ENGH) dived by over 9% to $23.87 per share, making it one of the worst-performing TSX stocks for the day. This sharp decline in ENGH stock followed the company’s April quarter earnings release, which revealed a year-over-year drop in its revenue and a 25% plunge in operating profit to $25.1 million.
As a result, Enghouse’s adjusted quarterly earnings also fell 33% to $0.24 per share amid demand-side hesitancy and delays in customer investment decisions, missing Street analysts’ expectations of $0.37 per share by a wide margin. This earnings miss disappointed investors despite management reaffirming its long-term acquisition strategy and financial strength. On a year-to-date basis, ENGH stock is now down nearly 12%.
Orla Mining, G Mining Ventures, and Centerra Gold were also among the session’s bottom performers on the Toronto Stock Exchange, with each falling by at least 5.8%.
In contrast, Algoma Steel, Shopify, Seabridge Gold, and Baytex Energy climbed by at least 4.3% each, making them the day’s top-performing TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, Suncor Energy, Cenovus Energy, Manulife Financial, and TC Energy were the five most active stocks on the exchange.
TSX today
Commodity prices across the board were mixed in early trading on Monday, pointing to a muted opening for the resource-heavy main TSX index today.
While it’s a quiet day for Canadian data, markets could still swing as investors await key U.S. inflation reports later this week and next week’s Fed rate decision. Meanwhile, global trade negotiations and related developments may influence sentiment, especially in export-sensitive sectors like industrials and materials.
Market movers on the TSX today
