Canadian equities started the new week on a firm note as investors breathed a sigh of relief after Iran’s retaliation against U.S. strikes stopped short of targeting vital oil shipping lanes, easing concerns over a major oil supply disruption. The S&P/TSX Composite Index climbed by 112 points, or 0.4%, on Monday to settle at 26,609.
Even as sharp declines in crude oil prices weighed on energy stocks, solid gains in sectors like technology, consumer, and industrials helped drive the broader market higher.
Top TSX Composite movers and active stocks
IAMGOLD (TSX:IMG) jumped by 5.6% to $10.49 per share, making it the top-performing TSX stock for the day. This rally in IMG stock came after the company announced its Côté Gold Mine had reached nameplate throughput of 36,000 tonnes per day over 30 consecutive days.
Achieving this milestone within just 15 months since first gold production was seen as a strong execution win by IAMGOLD’s investors. With this, the company also reaffirmed its 2025 production guidance of 360,000 to 400,000 ounces and noted that operating costs are expected to decline throughout the year. On a year-to-date basis, IMG stock is now up 41%.
Air Canada, Ero Copper, and West Fraser Timber were also among the top gainers on the Toronto Stock Exchange, with each climbing by at least 3.5%.
On the flip side, Baytex Energy, Methanex, Paramount Resources, and Athabasca Oil dived by at least 5.7% each, making them the day’s worst-performing TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, TC Energy, Baytex Energy, Cenovus Energy, and Suncor Energy were the five most active stocks on the exchange.
TSX today
After tanking by 8% on Monday, West Texas Intermediate crude futures slid another 2% early Tuesday, after U.S. president Donald Trump announced a ceasefire deal between Israel and Iran. The de-escalation could pressure TSX energy stocks at the open today, while broader markets may find support from easing geopolitical tensions.
Besides the domestic consumer inflation report, Canadian investors will closely monitor the latest U.S. consumer confidence data and the Federal Reserve’s testimony before Congress for any new signals on the central bank’s policy direction. These key updates could influence investor expectations around interest rate cuts in the second half of 2025 and set the tone for both Canadian and global equities as the week unfolds.
On the corporate events side, the TSX-listed BlackBerry will announce its latest earnings today after the market closing bell. Bay Street analysts expect the Canadian software firm to post a net profit of US$3.45 million for the May quarter, with around US$112 million in quarterly revenue.
Market movers on the TSX today
