A day after posting their biggest single-day percentage decline, Canadian equities staged a minor recovery on Wednesday, helped by largely better-than-expected corporate earnings, even as the U.S.-Iran ceasefire remained fragile. The S&P/TSX Composite Index inched up by 147 points, or 0.4%, to settle at 33,955 — trimming its week-to-date losses to 1.1%.
On the one hand, industrial, consumer, and financial stocks witnessed weakness. On the other hand, strong gains in some key sectors like healthcare, mining, and technology helped the TSX benchmark recover.
Earlier in the week, U.S. president Donald Trump extended the truce to give Iran more time to present a unified proposal, which helped calm immediate fears of a fresh escalation. However, with the U.S. blockade of Iranian ports still in place and Iran yet to clearly commit to fresh talks, commodity markets remained highly reactive to geopolitical headlines.
Top TSX Composite movers and active stocks
Curaleaf, Rogers Communications (TSX:RCI.B), Energy Fuels, and Cameco were the top-performing TSX stocks for the day, with each climbing by at least 8.4%.
This rally in Rogers stock came after the Toronto-based communications giant posted solid results for the first quarter of its fiscal year 2026 (ended in March) and raised its full-year free cash flow outlook. The company posted 10% growth in its quarterly total service revenue to $4.9 billion, while its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 5% to $2.4 billion.
Its free cash flow also jumped 32% from a year ago to $776 million, and Rogers now expects full-year free cash flow of $4.1 billion to $4.3 billion, up from its earlier target range of $3.3 billion to $3.5 billion. Its stock moved higher as investors cheered the stronger cash flow, improved capital efficiency, and upgraded outlook, which gave confidence about better financial flexibility and faster debt reduction ahead.
However, shares of Altus Group, BRP, Thomson Reuters, and Cargojet slipped by at least 3.8% each, making them the day’s worst-performing TSX stocks.
Based on their daily trade volume, Baytex Energy, Rogers Communications, Canadian Natural Resources, Telus, and Cenovus Energy were the five most active stocks on the Toronto Stock Exchange.
TSX today
Crude oil and natural gas prices inched up in early trading on Thursday, while gold and silver prices fell sharply as the broader energy backdrop is still highly unstable. Iran recently attacked three commercial vessels in the Strait of Hormuz, while U.S. forces have now turned back at least 31 ships under the continuing blockade of Iranian ports. That keeps supply risks elevated even after the U.S.-Iran ceasefire extension, especially with the International Energy Agency (IEA) warning that the world has already lost about 13 million barrels per day of oil and faces what it called the biggest energy security threat in history.
These tensions could continue to support oil and gas prices in the near term, even as pressure mounts on the global economy through higher fuel costs and inflation risks. For Canadian investors, that means TSX energy stocks may stay volatile today, while sectors more sensitive to input costs and economic growth could remain under pressure.
While no major economic releases are due, the TSX-listed companies, Teck Resources, FirstService, and Mullen Group will announce their latest quarterly results today, which could keep these stocks in focus throughout the session.
Market movers on the TSX today
