Canadian equities saw heightened volatility on Friday as investors reacted to sharp declines in precious metals prices and weaker-than-expected GDP (gross domestic product) growth numbers. After closing at a new all-time high in the previous session, the S&P/TSX Composite Index slipped by 60 points, or 0.2%, to 26,692.
As gold prices plunged to their lowest level in over five weeks, most mining stocks witnessed a selloff. Meanwhile, gains in key sectors like healthcare, real estate, and technology helped cushion broader losses, preventing a steeper retreat in the benchmark index.
Top TSX Composite movers and active stocks
Lundin Gold, G Mining Ventures, Energy Fuels, and Kinross Gold dropped by 5.7% each, making them the worst-performing TSX stocks for the day.
On the flip side, CAE and EQB jumped by at least 5% each, making them the top gainers on the Toronto Stock Exchange.
Shares of TC Energy (TSX:TRP) also climbed by 2.4% to $67 apiece after the Calgary-based energy infrastructure firm revealed that it has started collecting tolls for its Southeast Gateway pipeline. TC Energy highlighted that the US$3.9 billion project was completed 13% under its original cost estimate and confirmed it has received payment from Mexico’s Comisión Federal de Electricidad (CFE) for May, marking the start of toll collection on the pipeline.
Notably, this 715-kilometre pipeline is expected to play an important role in delivering affordable and reliable natural gas to Mexico. Investors reacted positively as TC Energy noted that this was the first major energy infrastructure built under its public-private partnership with the CFE, highlighting its growing strategic presence in Mexico. With this, TRP stock has jumped nearly 40% over the last year.
According to the exchange’s daily trade volume data, TC Energy, Canadian Natural Resources, Suncor Energy, Scotiabank, and Manulife Financial were the five most active stocks.
TSX today
After falling sharply in the previous session, crude oil, gold, and silver prices staged a recovery in early trading on Monday, which could lift the resource-heavy main TSX index at the open today.
With no major economic or corporate releases due, the market may trade in a tight range before going into Canada Day celebrations on Tuesday. Nevertheless, investors will likely stay focused on commodity price trends and global geopolitical updates for short-term direction.
Market movers on the TSX today
