Canadian stocks remained under pressure on Friday as investors reacted to renewed trade tensions and a surprisingly stronger-than-expected employment report, which tempered hopes for near-term interest rate cuts. The S&P/TSX Composite Index slipped by 59 points, or 0.2%, to settle at 27,023.
While stronger commodity prices across the board pushed mining and energy stocks higher, the gains were not enough to fully offset declines in other sectors such as healthcare, technology, and industrials.
With this, the TSX benchmark ended the week with a 13-point decline, snapping a two-week winning streak as investor sentiment turned cautious heading into the second half of July.
According to Statistics Canada’s latest report, the country added 83,000 jobs in June, pushing the unemployment rate down to 6.9% — marking its first drop since January. Job gains were mainly led by part-time roles and retail, with core-aged workers (those aged 25 to 54) seeing the biggest boost.
Top TSX Composite movers and active stocks
Enghouse Systems, Open Text, Bausch Health, and Richelieu Hardware were the worst-performing TSX stocks for the day as they slid by at least 3.3% each.
In contrast, surging metals prices drove mining stocks like Aya Gold & Silver, First Majestic Silver, Endeavour Silver, and Orla Mining up by over 5% each, making them the session’s top-performing TSX stocks.
Shares of Aritzia (TSX: ATZ) also traded positively after the Vancouver-based retailer posted strong first-quarter (ended in May) financial results for its fiscal year 2026. During the quarter, the company’s revenue climbed by 33% year over year to $663.3 million, with U.S. sales jumping over 45%.
Aritzia credited this strong performance to robust demand across its spring/summer collections and continued growth in retail and e-commerce channels. As a result, its gross margin also expanded by 320 basis points, while adjusted earnings per share nearly doubled to $0.42. Investors also welcomed management’s upbeat outlook for the second quarter and full fiscal year. So far in 2025, ATZ stock has risen 41%.
Based on their daily trade volume, Canadian Natural Resources, Cenovus Energy, TD Bank, TC Energy, and Whitecap Resources were the five most active stocks on the exchange.
TSX today
Over the weekend, U.S. president Donald Trump threatened to impose a 30% tariff on goods from Mexico and the European Union starting August 1. The announcement added to already heightened global trade tensions and may weigh on TSX investor sentiment at the open today. Meanwhile, commodity prices across the board trended higher in early Monday trading, which could offer a cushion for the TSX at the open despite rising global trade concerns.
While no major economic releases are due this morning, Canadian investors could remain on edge ahead of Tuesday’s important consumer inflation reports from both sides of the border.
On the corporate events side, the TSX-listed Prairiesky Royalty will release its second-quarter earnings report after the market closing bell today. Bay Street analysts expect the company to post adjusted earnings of $0.26 per share for the June quarter.
Market movers on the TSX today
