Canadian stocks started the new week with a sharp recovery, as investors temporarily looked past ongoing U.S.-China trade tensions after the Federal Reserve chair Jerome Powell hinted that the central bank could be nearing a pause in tightening. A session after posting its worst single-day performance in over six months, the S&P/TSX Composite Index surged 503 points, or 1.7%, to settle at 30,354 on Tuesday — regaining key psychological ground above the 30,000 mark.
Broad-based gains were seen across sectors, with notable rebounds in materials, financials, and healthcare. Utility stocks also extended their recent strength amid continued global uncertainty.
On the economic outlook front, Powell acknowledged rising downside risks to employment, despite stronger-than-expected economic growth. He highlighted that the Fed will continue to set policy on a meeting-by-meeting basis, with no pre-set path for interest rates.
Top TSX Composite movers and active stocks
Shares of Energy Fuels (TSX: EFR) rocketed 30% and Denison Mines jumped 11.4% — making them among the top gainers on the Toronto Stock Exchange. This rally in uranium stocks came as investors seemed concerned over U.S. president Donald Trump’s recent warning that China may impose sweeping export controls on rare earth elements and other critical materials, raising fears of a supply squeeze in strategic commodities.
Orla Mining (TSX: OLA) climbed by nearly 20% after the Vancouver-based miner reported strong third-quarter production and reaffirmed its revised annual guidance. The company produced 79,645 ounces of gold in the third quarter, putting it firmly on track to hit the upper end of its 2025 forecast range.
Strong performance from Orla’s Musselwhite mine helped offset earlier disruptions at Camino Rojo mine. After the recent rally, OLA stock has seen a 132% rise so far in 2025.
Endeavour Silver and Ero Copper were also among the top-performing TSX stocks for the day, as they inched up by more than 10% each.
On the flip side, Nutrien, BCE, and Altus Group slipped by at least 2.1% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, TD Bank, B2Gold, TC Energy, and Capstone Copper were the five most active stocks on the exchange.
TSX today
The ongoing rally in metals prices continued in early trading on Wednesday, with spot gold crossing above US$4,200 per ounce for the first time, driven by safe-haven demand amid escalating global trade tensions. These gains could lift the commodity-heavy main TSX index at the open today.
While no major economic or corporate releases are due this morning, Canadian investors will continue to closely monitor any developments in U.S.-China trade relations. With metals prices on the rise amid safe-haven demand and geopolitical uncertainty still dominating headlines, mining stocks are likely to remain in focus.
Market movers on the TSX today
