Canadian stocks continued to climb for the third consecutive session on Friday as investors continued to closely monitor the ongoing U.S.-Iran negotiations to reach a peace agreement and ease tensions around the Strait of Hormuz. Improving investor sentiment, along with softer Treasury yields and stable commodity prices, helped the S&P/TSX Composite Index rise by 62 points, or 0.2%, to settle at 34,471 — its highest close since early March and just shy of its record closing high of 34,541.
Even as weaker commodity prices led declines in energy and mining stocks, continued buying in some key market sectors, such as utilities, technology, and industrials, helped lift the broader TSX benchmark higher.
Top TSX Composite movers and active stocks
BlackBerry, NFI Group, MDA Space, and Finning International were the day’s top-performing TSX stocks, with each climbing by at least 4.7%.
In contrast, CAE (TSX: CAE) tanked by nearly 14% to $32.01 per share, making it the worst-performing TSX stock for the day. This selloff in CAE stock came after the Saint Laurent-based firm reported mixed fiscal fourth-quarter 2026 (ended in March) results and revealed a multi-year transformation plan.
While CAE’s quarterly revenue rose 4% year over year to $1.33 billion, its operating profit fell 47% from a year ago to $127.4 million, mainly reflecting $84.4 million in restructuring costs. As a result, the company’s adjusted earnings also slipped 11% to $0.42 per share, but still managed to exceed Street analysts’ expectations. Investors appeared to focus on softer civil training demand, weaker margins, and CAE’s warning that fiscal 2027 will be an execution year as it absorbs transformation-related costs before longer-term savings begin to show.
Perpetua Resources, Triple Flag Precious Metals, and Silvercorp Metals were also among the session’s bottom performers on the Toronto Stock Exchange, as they plunged by at least 3.2% each.
Based on their daily trade volume, Canadian Natural Resources, Enbridge, BlackBerry, Manulife Financial, and Whitecap Resources were the five most active stocks on the exchange.
TSX today
West Texas Intermediate (WTI) crude oil futures prices fell below US$91 per barrel in early Monday trading, while metals prices trended higher. This could lead to mixed trading activity on the TSX at the open today, with weakness in energy stocks potentially offset by gains in mining shares linked to gold, silver, and copper.
Meanwhile, Canadian investors are also likely to stay focused on developments surrounding the potential U.S.-Iran agreement after reports suggested the two sides have made progress on several major issues, including the possible reopening of the Strait of Hormuz and limits on Iran’s highly enriched uranium stockpile. U.S. president Donald Trump said over the weekend that negotiations were mostly complete, although he later added that his representatives were instructed not to hurry the final agreement.
The prospect of easing supply disruptions in the Middle East could continue to influence oil prices and sentiment around TSX energy stocks this week. However, market volatility may remain elevated as investors assess whether the proposed deal can actually be finalized.
Market movers on the TSX today
