TSX Today: What to Watch for in Stocks on Friday, June 26

The TSX posted a modest recovery on Thursday as gains in mining and industrial stocks outweighed weakness in technology shares, while today’s trading could be shaped by commodity prices and U.S. consumer sentiment data.

Jitendra Parashar

Author Bio Jitendra Parashar is a financial journalist who has been writing for The Motley Fool Canada since June 2020. With more than 13 years of experience in financial journalism, equity research, and market analysis, he helps investors understand market developments and identify long-term investment opportunities. Before joining The Motley Fool Canada, Jitendra spent several years at Market Realist covering U.S. equities, major economic developments, and developments in the automotive and technology industries. He also worked in commodity and currency research at brokerage firms, gaining insight into how economic trends, central bank decisions, and geopolitical events influence financial markets. Jitendra writes for beginner investors, dividend seekers, and Canadians looking to build wealth over the long term. He also contributes to the daily TSX Today series, explaining key Canadian market developments and highlighting news investors should watch. Based in India, Jitendra follows Canadian and U.S. markets closely. Outside of work, he enjoys travelling in the Himalayas, street and nature photography, and exploring programming and artificial intelligence. Education MBA in Finance and International Business Bachelor's degree in Journalism Areas of Expertise Canadian and U.S. financial markets, long-term equity investing, dividend investing, macroeconomic and geopolitical trends, automotive stocks, emerging technologies, and artificial intelligence. Social Media Profiles LinkedIn Muck Rack Favorite Investment Quote “Simplicity is the master key to financial success.” — John C. Bogle

Published June 26, 9:00 am EDT

After falling for two consecutive sessions, Canadian stocks staged a minor recovery on Thursday as a rebound in commodity prices and stronger-than-expected U.S. economic data boosted investor confidence. The S&P/TSX Composite Index inched up by 114 points, or 0.3%, to settle at 34,850.

Despite weakness in technology stocks, strong gains in most other key market sectors, including healthcare, industrials, and mining, helped lift the TSX benchmark.

Top TSX Composite movers and active stocks

BlackBerry (TSX: BB) surged by more than 19% to $14.62 per share, making it the top-performing TSX stock for the day. This strong rally in BB stock came after the Waterloo-based software firm reported stronger-than-expected fiscal first-quarter results, with its revenue rising 26% year over year to US$153 million and adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) jumping 144%.

Investors were also encouraged by BlackBerry’s fifth straight quarter of positive GAAP (generally accepted accounting principles) net profit, its first positive fiscal first-quarter operating cash flow in nine years, and solid growth across its QNX and Secure Communications businesses. On a year-to-date basis, BB stock is now up 182%.

Jamieson Wellness (TSX: JWEL), Aya Gold & Silver, and Bausch Health Companies were also among the day’s top gainers on the Toronto Stock Exchange, with each climbing by at least 5.5%.

Gains in Jamieson Wellness followed the company’s confirmation that, after receiving an unsolicited acquisition proposal, its board has started a process to enhance shareholder value and is in talks with interested parties about a potential transaction. However, Jamieson cautioned that there is no guarantee any deal will be reached.

In contrast, MDA Space, NexGen Energy, Energy Fuels, and Constellation Software slid by at least 3.6% each, making them the session’s worst-performing TSX stocks.

Based on their daily trade volume, Telus, BlackBerry, Canadian Natural Resources, B2Gold, and Cenovus Energy were the five most active stocks on the exchange.

TSX today

Crude oil prices fell in early morning trading on Friday, while gold and silver prices continued to strengthen. Given these mixed commodity price trends, the resource-heavy TSX could see a cautious start to the session today, with strength in precious metals miners potentially offsetting weakness in energy stocks.

While no major domestic economic releases are due, Canadian investors may want to keep an eye on the latest inflation expectations and consumer sentiment data from the U.S. this morning.