Despite a correction in commodity prices and concerns about a U.S. government shutdown affecting economic growth, Canadian stocks rose for the fifth consecutive session as investors showed confidence that policymakers would ultimately reach a resolution and that cooling economic data could support more rate cuts. The S&P/TSX Composite Index rose 53 points, or 0.2%, on Thursday, reaching 30,161 — its third consecutive record close.
As mining and energy stocks took a breather, strength in other key sectors like healthcare, consumer cyclical, and technology carried the TSX to another record high, keeping the market benchmark on track for a strong weekly finish.
Top TSX Composite movers and active stocks
Energy Fuels, Curaleaf Holdings, and Nutrien were the top-performing TSX stocks for the day, with each climbing by at least 5.6%.
Shares of BRP (TSX:DOO) were also among the top gainers on the Toronto Stock Exchange, as they rose 4.3% to $93.27 apiece. This rally in DOO stock came after the company told investors it would unveil its new “Mission 28” strategic plan at its upcoming investor and analyst day event on October 9. The plan is expected to outline BRP’s long-term growth vision and provide updates on its current operations.
Anticipation around fresh strategic direction and potential growth catalysts sparked optimism among BRP investors, fueling the stock’s strong move higher. On a year-to-date basis, the stock is now up 27.4%.
In contrast, Canada Packers (TSX:CPKR) traded negatively on the first day its shares began trading on the TSX following the spin-off from Maple Leaf Foods. The debut marked the launch of Canada Packers as an independent public firm focused on premium, sustainably produced pork. Despite Maple Leaf retaining a 16% stake in the newly formed company alongside a long-term supply agreement, investors appeared cautious about the new listing’s valuation and near-term execution risks.
Skeena Resources and NovaGold Resources also slid by at least 4.7% each, making them among the day’s worst-performing TSX stocks.
Based on their daily trade volume, TC Energy, Canadian Natural Resources, Cenovus Energy, TD Bank, and Scotiabank were the five most active stocks on the exchange.
TSX today
Commodity prices across the board edged higher in early Friday trading, which could lift TSX resource-linked stocks at the open today.
While no major domestic economic releases are due, Canadian investors may want to keep an eye on the latest non-manufacturing purchasing managers index (PMI) data from the U.S. this morning. More importantly, investors may remain cautious as the U.S. government shutdown entered its third day with no signs of progress, sparking concerns over prolonged disruptions. Meanwhile, President Donald Trump has threatened further cuts to federally funded projects — a move that could ripple through markets if the standoff drags on.
Market movers on the TSX today
