Canadian equities traded on a positive note for the fifth consecutive session on Thursday, even as the U.S. market remained closed for the Thanksgiving holiday, leading to lighter-than-usual trading volumes. The S&P/TSX Composite Index rose 16 points to a new closing high of 31,197, extending its record-setting streak.
Despite weakness in consumer staples and utility stocks, the gains in technology, energy, and mining helped the TSX finish in green territory.
Top TSX Composite movers and active stocks
goeasy, MDA Space, Superior Plus, and Bombardier were the top-performing TSX stocks, as they climbed by at least 2% each.
Shares of Brookfield (TSX:BN) also traded positively after the company completed a US$250 million preferred share offering. The newly issued Series 54 preferred shares will pay a fixed dividend of 5.65% annually until the end of 2030, after which the rate will reset every five years.
Brookfield plans to use the proceeds to redeem its existing Series 44 preferred shares at US$25 apiece. Investors seemed to welcome the move as part of the company’s ongoing capital optimization strategy. The positive movement in BN stock apparently reflected confidence in Brookfield’s stable dividend plan and strong balance sheet discipline.
In contrast, Allied Properties REIT, Toromont Industries, Russel Metals, and ATS slipped by at least 1.2% each, making them the day’s worst-performing TSX stocks.
Based on their daily trade volume, MEG Energy, Telus, Great-West Lifeco, Suncor Energy, and Whitecap Resources were the five most active stocks on the exchange.
TSX today
Commodity prices across the board edged up in early Friday trading, with oil and gold both showing modest gains. These moves could lend further support to the resource-heavy TSX index at the open today.
While no major economic releases from the U.S. are due, Canadian investors will keep an eye on the latest gross domestic product (GDP) and budget balance data set for release this morning, which could offer fresh insight into the country’s economic momentum heading into year-end.
Market movers on the TSX today
