Canadian stocks went sideways on Thursday as investors reacted to a slew of corporate earnings and commodity market volatility amid expectations of a possible agreement on shipping through the Strait of Hormuz. The S&P/TSX Composite Index ended a volatile session down 10 points at 36,136, snapping its two-day record-setting rally that had lifted the benchmark 2.6%.
Even as a sharp recovery in crude oil prices lifted energy shares, with tech stocks also showing strength, steep losses in many other key market sectors like consumer cyclicals, real estate, and utilities pressured the TSX index.
Top TSX Composite movers and active stocks
ATS (TSX:ATS) was the worst-performing TSX stock for the day, as its shares nosedived 27% to $8.69 each. This massive selloff in ATS stock came after the Cambridge-headquartered automation solutions provider delivered disappointing first-quarter fiscal 2027 (ended on June 28, 2026) results.
In the latest quarter, the company’s revenue fell 5.8% year over year (YoY) to $693.7 million, mainly due to lower organic revenue and construction contract revenue. ATS also swung to a net loss of $0.3 million from a $24.3 million profit a year ago, mainly due to lower revenue. Meanwhile, its order backlog declined 8.7% to $1.9 billion, with delays in some large customer awards reducing the backlog available for near-term conversion.
Premium Brands Holdings, Celestica, and Element Fleet Management were also among the day’s bottom performers on the Toronto Stock Exchange, with each diving by more than 9%.
On the brighter side, Curaleaf Holdings (TSX:CURA) advanced by more than 10% after posting strong second-quarter results. Its revenue climbed 10% YoY with the help of growth in its domestic and international businesses.
Curaleaf’s gross profit also rose to US$169.9 million in the latest quarter, while gross margin improved to 50%. As a result, the company reported a net profit of US$12.5 million, compared with a US$53.6 million net loss a year ago, boosting investor confidence.
Paramount Resources, Valor Gold, and WSP Global also rallied by at least 6.3% each, putting them among the session’s top-performing TSX stocks.
Based on their daily trade volume, Enbridge, Telus, Canadian Natural Resources, BCE, and Equinox Gold were the five most active stocks on the exchange.
TSX today
Crude oil prices were largely mixed while metals showed strength in early trading on Friday, which could result in a relatively stable start for the resource-heavy TSX index today.
Continued progress toward a temporary shipping arrangement between Iran and Oman could help ease concerns about prolonged disruptions through the Strait of Hormuz. If the deal moves forward, improving visibility around global energy flows may support broader investor sentiment even if crude oil prices remain volatile.
With jobs reports from both sides of the border due this morning, TSX investors will closely monitor the latest Canadian and U.S. labour market trends for clues about the economic outlook and the future path of interest rates.
In addition, earnings releases from TSX-listed companies like MDA Space, Emera, and Algonquin Power & Utilities are also likely to remain on investors’ radar.
Market movers on the TSX today
