Canadian stocks continued to climb for a second consecutive session on Tuesday as investors welcomed signs of de-escalation in geopolitical tensions and grew more optimistic that the U.S. Federal Reserve may consider a rate cut later this year. The S&P/TSX Composite Index rose by 109 points, or 0.4%, to settle at 26,719 — a fresh all-time high.
While falling oil, gas, and gold prices pressured commodity-heavy sectors like energy and materials, gains in technology, consumer, and financials kept the TSX index in record-setting territory.
Top TSX Composite movers and active stocks
Lightspeed Commerce (TSX:LSPD) was the top-performing TSX stock for the day, with its shares surging by 7% to $16.16 apiece. The rally in LSPD stock followed the Montréal-based firm’s announcement of a strategic partnership with the hospitality technology company Whoosh to improve operations for private golf clubs.
The Lightspeed-Whoosh integration will deliver a unified platform that streamlines scheduling, payments, and membership management in real time. The move is likely to strengthen Lightspeed’s position in the growing golf and hospitality tech segment. As a result, investors responded positively to the announcement, triggering a buying spree in LSPD stock that trimmed its year-to-date losses to 26%.
Celestica, Shopify, and Cameco each climbed by around 3.7% for the session, making them among the top gainers on the Toronto Stock Exchange.
In contrast, OceanaGold, SSR Mining, IAMGOLD, and Equinox Gold were the day’s worst-performing TSX stocks as they slid by at least 4.5% each.
When it comes to trading activity based on volume, Canadian Natural Resources, TC Energy, Suncor Energy, Cenovus Energy, and Manulife Financial topped the list.
TSX today
Commodity prices across the board were largely mixed in early trading on Wednesday as investors closely monitored the fragile ceasefire between Iran and Israel. Given that, the resource-heavy TSX index is likely to open relatively flat today.
While no major domestic economic releases are due, Canadian investors will turn their attention to U.S. new home sales figures and the second day of Fed Chair Jerome Powell’s congressional testimony.
On the corporate events side, the TSX-listed Alimentation Couche-Tard and NovaGold Resources will release their latest quarterly earnings reports today, which could keep their shares in focus through the session.
Market movers on the TSX today
