The Canadian stock market rollercoaster continued on Friday as investors assessed the possibility of more rate cuts in the coming months, even as the ongoing artificial intelligence (AI)-related volatility weighed on tech valuations. A day after diving by 1.2%, the S&P/TSX Composite Index climbed by 254 points, or 0.8%, to settle at 30,161 — but still ended the week with a 0.5% decline.
Although declining crude oil prices weighed on TSX-listed energy stocks, an intraday recovery in many other key sectors, including healthcare, consumer discretionary, and technology, helped lift the broader market into positive territory.
Top TSX Composite movers and active stocks
Curaleaf Holdings, TFI International, Magna International, and goeasy were the top-performing stocks for the day, with each rising by at least 5.6%.
Shares of Northland Power (TSX:NPI) dived by 3.6% to $17.02 per share, making it one of the day’s worst-performing TSX stocks. This weakness in NPI stock followed the company’s strategic update and news of its €200 million acquisition of two battery energy storage projects in Poland.
While the move aligns with Northland’s growth ambitions in renewable infrastructure, investors may have reacted cautiously to the near-term financing needs and execution risks tied to these large-scale pre-construction projects. At the same time, the company also unveiled a plan to double its operating capacity by 2030 and optimize costs. Notably, NPI stock has lost nearly 34% of its value so far in November.
Skeena Resources, Cameco, and Energy Fuels were also among the session’s bottom performers on the Toronto Stock Exchange, as they slipped by over 3% each.
Based on their daily trade volume, Discovery Silver, Canadian Natural Resources, Telus, Cenovus Energy, and Sun Life Financial were the five most active stocks on the exchange.
TSX today
Oil and precious metals prices trended lower in early morning trading on Monday, pointing to a cautious opening for the resource-heavy TSX index today.
While no major economic releases are due this morning, investors will likely stay focused on commodity price movements and global macro developments for short-term direction.
The TSX-listed Alimentation Couche-Tard will release its latest quarterly earnings report today after the market closing bell. Bay Street analysts expect the Laval-headquartered firm to post earnings of US$0.75 per share for the October quarter, with US$18 billion in revenue.
Market movers on the TSX today
