Canadian equities inched up on Monday to end the second quarter on a positive note, as investors remained optimistic about the possibility of interest rate cuts later this year amid easing inflation pressures and mixed economic data. Ahead of the mid-week Canada Day holiday, the S&P/TSX Composite Index rose 165 points, or 0.6%, to settle at 26,857 — marking its highest-ever closing level and extending a steady streak of quarterly gains.
All key market sectors ended the session in the green, with healthcare, consumer discretionary, and mining stocks leading the charge as investor sentiment brightened heading into the second half of the year.
With that, the TSX benchmark wrapped up the quarter with a strong 7.8% gain — its fourth straight quarterly rise.
Top TSX Composite movers and active stocks
As gold prices regained strength, Lundin Gold, Torex Gold, Kinross Gold, and Orla Mining became the top-performing TSX stocks for the day, with each climbing by at least 4.3%.
In contrast, Methanex, Baytex Energy, Headwater Exploration, and Vermilion Energy slid by at least 2.2% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, TC Energy, Scotiabank, Canadian Natural Resources, Suncor Energy, and Toronto-Dominion Bank were the five most active stocks on the exchange.
After the market closing bell, Bombardier (TSX: BBD.B) announced a firm order for 50 Challenger and Global jets, along with a first-of-its-kind services partnership. The combined value of the aircraft and service agreement is pegged at US$1.7 billion, with deliveries scheduled to begin in 2027.
Bombardier’s unnamed customer also secured 70 additional purchase options, which could bring the total value to over US$4 billion if fully exercised. This news could prompt renewed interest in Bombardier shares when the TSX reopens today, especially given the scale and long-term nature of the order.
TSX today
With overnight gains in crude oil and gold prices, the commodity-heavy TSX index could extend its rally to fresh record highs at the open today.
While no major domestic economic releases are due, Canadian investors may want to keep an eye on the latest U.S. non-farm employment and crude oil stockpiles data this morning. If the U.S. employment report data confirms a cooling economy without major red flags, investors may feel even more confident that more Fed rate cuts are on the horizon.
Market movers on the TSX today
