The rally in Canadian stocks picked up pace Thursday as investor sentiment improved following the release of encouraging U.S. retail sales and manufacturing data. The S&P/TSX Composite Index jumped by 234 points, or 0.9%, to settle at 27,387 — posting a fresh all-time high and delivering its best single-day performance in over two months.
Despite weakness in mining and energy stocks due to volatility in commodity prices, solid gains in other key sectors such as technology, financials, and consumer discretionary drove the TSX benchmark higher.
Top TSX Composite movers and active stocks
Shares of Energy Fuels (TSX:EFR) jumped by 11.4% to $12.57 apiece, making it the top-performing TSX stock for the day. The rally in EFR stock came after the critical mineral company revealed that it has begun pilot-scale production of heavy rare earth element (HREE) oxides, including dysprosium, at its White Mesa Mill in Utah.
Notably, Energy Fuels is the only U.S. firm currently producing separated HREE oxides from mined ores, making it a key domestic supplier in the critical mineral space. The company expects to scale up to commercial production by late 2026 and is targeting further expansion through its Donald Project in Australia by 2027. After the recent gains, EFR stock has surged by 39% so far this week.
Alimentation Couche-Tard (TSX:ATD) also climbed by 8.3% after announcing the withdrawal of its acquisition proposal for Japan’s Seven & i Holdings due to a lack of constructive engagement. The market reacted positively to the decision, viewing it as a prudent move to avoid a prolonged and uncertain takeover battle.
Shopify and Gildan Activewear were also among the day’s top gainers on the Toronto Stock Exchange, with each rising by at least 5.7%.
In contrast, Superior Plus, Orla Mining, Hudbay Minerals, and TMX Group slipped by at least 2.2% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, Cenovus Energy, TC Energy, Canadian Natural Resources, Whitecap Resources, and Couche-Tard were the five most active stocks on the exchange.
TSX today
Metals were trading on a firm note in early Friday action, which could lead to a rebound in mining stocks at the open today and give the commodity-heavy main TSX index an added boost after Thursday’s record-setting rally.
While no major economic releases are due, Canadian investors could continue to keep an eye on any trade policy-related developments from the United States. Overall, the market’s expectations from the upcoming corporate earnings season may set the tone for near-term direction ahead of a busy reporting schedule next week.
Market movers on the TSX today
