After declining for two consecutive sessions, Canadian stocks staged a sharp rebound on Thursday as cooler-than-expected U.S. wholesale inflation data and prospects of a U.S.-Iran peace deal boosted investor sentiment. The S&P/TSX Composite Index jumped by 520 points, or 1.5%, to settle at 34,671, registering its biggest single-day percentage gain in over a month.
With the progress in U.S.-Iran negotiations helping ease pressure on global energy markets, West Texas Intermediate (WTI) crude oil futures prices eased to their lowest level since April 20, dragging some energy stocks lower. At the same time, a solid recovery in metals prices across the board lifted TSX mining stocks higher.
Top TSX Composite movers and active stocks
AbraSilver Resource, Energy Fuels (TSX: EFR), Silvercorp Metals, and Perpetua Resources were the top-performing TSX stocks for the day, with each climbing by at least 9.7%.
The rally in Energy Fuels stock came after the company said it expects to produce about 1.6 million pounds of finished U3O8 by the end of June, which falls within its full-year 2026 production guidance range of 1.5 million to 2.5 million pounds, effectively reaching that target range in just six months.
The update highlighted strong performance at Energy Fuels’s White Mesa Mill in Utah, where average monthly uranium production exceeded 265,000 pounds during the first half of the year. The company also reaffirmed its low-cost production profile and outlined progress on rare earth element expansion projects to boost future growth.
Dollarama (TSX: DOL) was also among the day’s top performers on the Toronto Stock Exchange, as its shares rose 8% following the release of its stronger-than-expected April quarter results. The Montreal-based value retailer’s sales climbed 21.4% year over year in the latest quarter, helped by new store openings and higher comparable store sales in Canada and a strong sales contribution from Australia.
In contrast, North West Company, Constellation Software, Birchcliff Energy, and Thomson Reuters slipped by more than 2% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, Cenovus Energy, Telus, Enbridge, and Suncor Energy were the five most active stocks on the exchange.
TSX today
Oil and gas prices extended their recent decline in early trading on Friday, while most base and precious metals traded in positive territory. These mixed commodity price trends could lead to a cautious start for the resource-heavy TSX index today.
While no major domestic economic releases are due, Canadian investors may want to keep an eye on the preliminary consumer sentiment and inflation expectations data from the U.S. this morning, which could play an important role in shaping broader market sentiment and expectations for the Federal Reserve’s next policy moves.
TSX investors will also continue monitoring developments in the Middle East after U.S. president Donald Trump said he had called off planned military strikes against Iran, citing progress in negotiations. While the prospect of a deal has helped improve global risk appetite and eased concerns about potential disruptions to oil supplies, Iran has indicated that key details still need to be finalized. As a result, geopolitical headlines could remain an important driver of commodity prices and TSX trading in the near term.
Market movers on the TSX today
