A bounce back in commodity prices, better-than-expected domestic purchasing managers’ index (PMI), and robust U.S. consumer sentiment figures helped Canadian stocks recover sharply on Friday as investors once again rotated into economically sensitive market sectors, signalling renewed confidence in growth prospects. As a result, the S&P/TSX Composite Index jumped 476 points, or 1.5%, for the day to settle at 32,471 — concluding the week with a strong 1.7% gain.
While utility stocks witnessed selling pressure, sectors tied to economic growth, such as mining, energy, financials, and industrials, posted solid gains, helping the broader TSX benchmark rebound.
Top TSX Composite movers and active stocks
Bitfarms (TSX:BITF) popped by over 25% to $2.92 per share, making it the day’s top-performing TSX Composite component. This rally in BITF stock came after the Toronto-based digital infrastructure firm revealed plans to redomicile from Canada to the United States and rebrand as Keel Infrastructure.
Bitfarms expects this move to strengthen its U.S. footprint, expand access to capital, and position its business as an infrastructure-first player focused on high-performance computing and artificial intelligence (AI) data centres. Investors appeared to welcome this strategic shift, triggering a buying spree in BITF stock.
New Gold, NovaGold Resources, and Open Text were also among the top gainers on the Toronto Stock Exchange as they climbed by at least 9.7% each.
On the flip side, ARC Resources, Definity Financial, Ero Copper, and Power Corporation of Canada slipped by at least 2.7% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, ARC Resources, Enbridge, Baytex Energy, Bitfarms, and TD Bank were the five most active stocks on the exchange.
TSX today
Precious metals prices trended higher in early morning trading on Monday, but crude oil and base metals remained largely mixed. Given these uneven commodity signals, the resource-heavy TSX Index could see a cautious start to the week today, with sector-specific movements likely to dominate early session trading.
While no major economic releases are due this morning, Canadian investors will continue to react to last week’s macroeconomic data, as well as monitor earnings results from key TSX-listed firms.
Before the earnings season heats up further later in the week, the TSX-listed Prairiesky Royalty and Silvercorp Metals will announce their latest quarterly results after the market closing bell.
Market movers on the TSX today
