Canadian equities continued to surge for a second consecutive session on Wednesday as rallying precious metals prices and the U.S. Federal Reserve’s recent signal of potential further easing lifted investor sentiment across key sectors. The S&P/TSX Composite Index climbed by 284 points, or 0.9%, to notch another all-time closing high of 30,637.
Even as concerns about escalating U.S.-China trade tensions lingered in the background, nearly all key TSX sectors ended the session in the green, mainly led by solid gains in mining, utility, and technology stocks.
Top TSX Composite movers and active stocks
Aya Gold & Silver (TSX:AYA) jumped nearly 14% to $18.61 per share, making it the top-performing TSX stock for the day. This rally in AYA stock came after the Canadian precious metals miner revealed record third-quarter silver production of 1.35 million ounces at its Zgounder Mine in Morocco, marking a 29% increase from the previous quarter.
The strong output at Aya’s mine was driven by improved ore grades, higher mill throughput averaging over 3,300 tonnes per day, and recoveries of 92.5% — surpassing feasibility study expectations. The company’s management also highlighted consistent operational discipline and optimization efforts that helped unlock these gains. After the recent rally, AYA stock is now up 73.3% on a year-to-date basis.
Endeavour Silver, Celestica, and Discovery Silver were also among the top gainers on the Toronto Stock Exchange, with each climbing by at least 8.7%.
Despite the broader market rally, Quebecor, Energy Fuels, CGI, and Fairfax Financial slid by at least 2.9% each, making them the session’s worst-performing TSX stocks.
According to the exchange’s daily trade volume data, TD Bank, Cenovus Energy, Canadian Natural Resources, B2Gold, and BCE were the five most active stocks.
TSX today
After settling just above the psychologically important US$4,200-per-ounce mark yesterday for the first time in history, spot gold prices continued to surge in early morning trading on Thursday, supported by persistent safe-haven demand amid an uncertain macroeconomic and global trade environment. Given these tailwinds, the commodity-heavy TSX index could open slightly higher today, with further gains expected in mining stocks.
While no major domestic economic releases are due, Canadian investors will closely monitor the monthly U.S. manufacturing and weekly crude oil stockpile figures today. The manufacturing data could provide fresh clues about the health of the U.S. economy and its potential impact on global demand trends.
Meanwhile, market participants are also keeping an eye on any new developments in the U.S.-China trade standoff, which continues to shape risk sentiment globally.
Market movers on the TSX today
