Canadian equities extended their gains for a third straight session on Thursday as cooler-than-expected U.S. wholesale inflation figures and signs of easing global trade tensions boosted investor sentiment. The S&P/TSX Composite Index rose by 92 points, or 0.3%, to settle at 26,616 — marking yet another record high, as confidence builds around a soft landing and potential Fed rate cuts later this year.
Despite weakness in some technology stocks, strong gains in most other key market sectors such as healthcare, consumer discretionary, and utilities kept the TSX in positive territory.
Top TSX Composite movers and active stocks
TransAlta (TSX:TA) surged by 8.5% to $15.51 per share, making it the top-performing TSX stock for the day. This rally in TA stock came after Jefferies upgraded the power producer’s rating to “buy” and significantly raised its price target from $12 to $20 per share. Despite the recent rally, TransAlta is still down nearly 24% on a year-to-date basis.
G Mining Ventures, Lundin Gold, and Torex Gold Resources were also among the day’s top gainers on the Toronto Stock Exchange, with each climbing by at least 5.6%.
In contrast, Ivanhoe Mines (TSX:IVN) dived by 7.2% to $9.99 per share after the company revised its 2025 copper production guidance downward to a range of 370,000 to 420,000 tonnes. The lowered outlook comes in the wake of underground seismic activity and flooding at its Kakula Mine, which had temporarily halted operations.
Although Ivanhoe’s mining operations have now restarted on the western side of the mine, the eastern section remains under dewatering efforts, with full remediation expected later this year. In 2025 so far, IVN stock has plunged by 41.4%.
Equinox Gold, Lightspeed Commerce, and Calibre Mining also slid by at least 4.9% each, making them among the session’s worst-performing TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, Ivanhoe Mines, Suncor Energy, Manulife Financial, and Cenovus Energy were the five most active stocks on the exchange.
TSX today
Commodity prices were showing wild swings in early Friday trading, with crude oil and gold rising sharply, as the news of Israeli airstrikes in Iran’s nuclear facilities sparked a rush into safe-haven assets and raised concerns over potential supply disruptions in the Middle East. West Texas Intermediate crude oil futures jumped by as much as 12% in intraday trading before easing slightly to trade around $73 per barrel. Gold spot prices also spiked above $3,440 an ounce before paring some gains.
These developments could lend early support to TSX energy and mining stocks, although geopolitical risk may also weigh on investor sentiment and trigger broader market volatility.
Market movers on the TSX today
