A much cooler-than-expected U.S. personal consumption expenditure (PCE) inflation rate, largely upbeat corporate earnings, and strong metals prices helped Canadian stocks recover on Thursday, even as investors continue to monitor the widening U.S.-Iran conflict and its impact on global energy and shipping markets. The S&P/TSX Composite Index advanced by 172 points, or 0.5%, to settle at 35,506, regaining some of the ground it lost in the previous session.
Strength in healthcare, mining, and financial stocks helped offset continued pressure on TSX energy shares as crude oil prices remained sensitive to developments in the U.S.-Iran conflict.
Softer-than-expected U.S. PCE inflation data also supported hopes that the Federal Reserve could adopt a more accommodative policy stance later this year after it recently kept benchmark interest rates unchanged while signaling a patient approach toward future policy moves.
Top TSX Composite movers and active stocks
Bausch Health Companies (TSX: BHC) skyrocketed by 28.5% to $8.43 per share, making it the top-performing TSX stock for the day. This rally in BHC stock came a day after the Laval-headquartered pharmaceutical firm posted strong second-quarter 2026 results and raised its full-year guidance.
In the June quarter, Bausch Health’s revenue climbed 13% year over year (YoY) to US$2.85 billion, while adjusted earnings jumped 40% to US$1.26 per share. The company also highlighted its 13th consecutive quarter of YoY revenue growth (excluding Bausch + Lomb) and lifted its 2026 guidance. Despite the recent rally, however, BHC stock is still down nearly 12% on a year-to-date basis.
Perpetua Resources, Energy Fuels, and Teck Resources were also among the day’s top gainers on the Toronto Stock Exchange, with each jumping by at least 8.2%.
On the flip side, Lightspeed Commerce (TSX: LSPD) plunged by nearly 13% after its first-quarter fiscal 2027 (ended in June 2026) results failed to impress investors despite topping its revenue outlook. The Montréal-based firm delivered 17% YoY organic revenue growth, narrowed its net loss sharply to US$2.4 million from US$49.6 million a year earlier, and posted higher adjusted income.
While Lightspeed maintained its full-year fiscal 2027 outlook and highlighted strong momentum in its core retail and hospitality businesses, the market appeared disappointed that it didn’t raise its guidance following the better-than-expected quarterly performance.
Bombardier, Thomson Reuters, and Boyd Group Services also slipped by at least 6.5% each, making them among the session’s worst-performing TSX stocks.
According to the exchange’s daily trade volume data, Whitecap Resources, Ivanhoe Mines, Enbridge, Telus, and BCE were the five most active stocks.
TSX today
Crude oil and precious metals prices trended lower in early trading on Friday, which could pressure the commodity-heavy main TSX index at the open today.
In addition to Canada’s monthly gross domestic product (GDP) figures, TSX investors will also keep an eye on the latest employment and revised consumer sentiment data from the U.S. this morning.
Meanwhile, escalating fighting between the U.S. and Iran may keep investors cautious before the long Civic Holiday weekend in Canada.
On the corporate events side, many key TSX-listed companies, including TransAlta, Imperial Oil, Parex Resources, Magna International, Cameco, Enbridge, Fortis, Brookfield Business Holdings, Brookfield Renewable Partners, and George Weston, will release their latest quarterly earnings reports today.
Market movers on the TSX today
