Despite weaker commodity prices, Canadian equities staged a sharp recovery on Monday, as investors showed confidence in the broader market’s ability to withstand short-term volatility ahead of the fourth-quarter corporate earnings season. After tanking by over 1,000 points in the previous session amid profit-taking at the end of January, the S&P/TSX Composite Index climbed by 260 points, or 0.8%, to settle at 32,184 — marking its biggest single-day percentage gain in 15 days.
On the one hand, falling crude oil and natural gas prices continued to pressure energy stocks. On the other hand, most other key market sectors, including consumer staples, financials, and consumer discretionary, saw broad-based buying. The bounce-back in equities signaled improving sentiment and investors’ willingness to look beyond near-term commodity weakness.
Top TSX Composite movers and active stocks
5N Plus (TSX: VNP) jumped by nearly 6% to $25.51 per share, making it one of the top-performing TSX stocks for the day and extending its five-day gains to nearly 35%. Yesterday’s rally in VNP stock came after the Saint-Laurent-based specialty semiconductor producer announced plans to further boost its space solar cell production capacity by 25% in 2026 through its AZUR SPACE subsidiary.
This expansion builds on 5N’s capacity increases of 35% in 2024 and 30% in 2025, reflecting strong and sustained demand from its satellite and space mission customers. The company also highlighted a maxed‑out backlog and a robust project pipeline driven by rising artificial intelligence (AI) adoption and global connectivity needs. On a year-to-date basis, VNP stock is now up 44%.
Aritzia, TFI International, and Brookfield Business Partners were also among the day’s top gainers on the Toronto Stock Exchange, with each climbing by at least 4.9%.
On the flip side, shares of Eldorado Gold (TSX: ELD) dived 8.5% after the company announced a major all‑share deal to acquire Foran Mining in a transaction valuing Foran at roughly $3.8 billion. While Eldorado highlighted strong long‑term growth prospects and sector‑leading free cash flow potential from the combined gold‑copper portfolio, the market appeared focused on near‑term dilution and execution risk, leading to a selloff in ELD stock.
Energy Fuels, Tourmaline Oil, and Badger Infrastructure also plunged by 4.2% each, making them the day’s worst-performing TSX stocks.
Based on their daily trade volume, B2Gold, Enbridge, Telus, Manulife Financial, and Barrick Mining were the five most active stocks on the exchange.
TSX today
West Texas Intermediate crude oil futures continued to decline for a second consecutive session in early morning trading on Tuesday, but metals prices staged a recovery. Given these mixed early moves in commodities, the TSX index could see a muted open today, with sector performance likely to diverge.
While no major domestic economic releases are due, Canadian investors will closely monitor the U.S. job openings data this morning for fresh signals on labour market strength and wage pressures, which act as key inputs into the U.S. Federal Reserve’s policy outlook.
On the corporate events side, the TSX-listed Suncor Energy will announce its fourth-quarter results today. Bay Street analysts expect the energy producer to post quarterly earnings of $1 per share, with nearly $11.8 billion in revenue.
Market movers on the TSX today
