Despite consistently falling crude oil prices, Canadian stocks traded positively on Friday as stronger-than-expected U.S. consumer sentiment figures, rebounding metals prices, and the possibility of a breakthrough in U.S.-Iran negotiations added to investor optimism. The S&P/TSX Composite Index climbed by 266 points, or 0.8%, for the day to settle at 34,938 — ending the week with a 1.5% gain.
Even as weakness in some sectors like technology and energy pressured the broader market, strong gains in mining, financial, and industrial stocks helped lift the TSX benchmark higher.
Top TSX Composite movers and active stocks
Montage Gold (TSX: MAU) was the day’s top-performing TSX stock, as it jumped by nearly 12% to $15.92 per share. Although there were no major company-specific announcements that day, the gain in MAU stock was largely driven by broader strength in gold prices and positive sentiment toward gold miners.
After the rally, Montage Gold stock is up 61% on a year-to-date basis as investors remain optimistic about the development prospects of its flagship Koné gold project in Côte d’Ivoire. The company remains on budget and ahead of schedule on the project, with the first gold pour targeted in the fourth quarter of 2026 through the oxide circuit, positioning it as one of the sector’s top gold growth stories.
Taseko Mines, Skeena Resources, and Aya Gold & Silver also rose at least 7.5% each, making them among the top gainers on the Toronto Stock Exchange.
In contrast, MDA Space, Curaleaf, Constellation Software, and Strathcona Resources plunged by more than 4% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, Cenovus Energy, Telus, Denison Mines, and Hydro One were the five most active stocks on the exchange.
TSX today
West Texas Intermediate (WTI) crude oil futures prices fell below US$80 per barrel for the first time in several months, which could drive TSX energy stocks lower at the open today. However, precious metals prices jumped sharply as investors continued to seek safe-haven assets amid lingering geopolitical and economic uncertainty, which could provide support to gold and silver mining shares.
More importantly, Canadian investors will closely monitor developments surrounding the newly announced framework agreement between the United States and Iran. The two sides have indicated that a memorandum of understanding aimed at ending more than three months of conflict is expected to be formally signed later this week, with provisions reportedly including a halt to military operations, the reopening of the Strait of Hormuz, and the removal of restrictions on Iranian shipping.
More importantly, investors will be assessing the market impact of a framework agreement announced between the United States and Iran to end their months-long conflict.
Market movers on the TSX today
