Canadian equities climbed for the third consecutive session on Tuesday as rising hopes of a U.S. government reopening and firm commodity prices continued to support investor sentiment. The S&P/TSX Composite Index added 93 points, or 0.3%, to close at 30,409, extending its recent upward momentum.
Despite intraday weakness in technology, consumer staples, and utility stocks, strong performance in other key sectors such as real estate, healthcare, and energy more than offset the drag, keeping the TSX in positive territory.
Top TSX Composite movers and active stocks
Kelt Exploration, Bausch Health, and Vermilion Energy were the top-performing TSX stocks for the day, with each climbing by at least 4.4%.
Shares of Altus Group (TSX:AIF) also climbed by 3.8% after the company revealed encouraging insights from its third-quarter analysis of European commercial property trends. Altus reported that commercial property values across its pan-European dataset rose for a fifth straight quarter, gaining 2.9% year over year.
This increase in Altus Group’s commercial property values was largely driven by stronger cash flow fundamentals, which contributed roughly 2.6% to the annual gain, while improved investor sentiment added the rest. The broad-based recovery across sectors also helped lift optimism around its market intelligence capabilities. Despite the recent recovery, Altus stock is still down over 10% on a year-to-date basis.
Despite the broader market optimism, Brookfield Renewable Partners, Energy Fuels, Ivanhoe Mines, and Curaleaf slipped by over 4% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, Baytex Energy, Cenovus Energy, Manulife Financial, and Whitecap Resources were the five most active stocks on the exchange.
TSX today
Commodity prices were largely mixed in early morning trading on Wednesday, pointing to a flat open for the resource-heavy main TSX index today.
While no major economic releases are due, Canadian investors will keep an eye on how U.S. lawmakers handle a high-stakes vote in Washington that could end the country’s longest-ever federal government shutdown.
Meanwhile, as the third-quarter earnings season continues in full swing, several TSX-listed companies, including Manulife Financial, Power Corporation of Canada, Northland Power, Bird Construction, SmartCentres REIT, Element Fleet Management, Boyd Group, Hudbay Minerals, and Loblaw, will announce their latest quarterly results today.
Market movers on the TSX today
