Despite heightened geopolitical tensions and elevated Treasury bond yields, Canadian stocks staged a sharp recovery on Friday as strong gains in metals prices and renewed buying across several key sectors helped lift the broader market. The S&P/TSX Composite Index jumped by 255 points, or 0.7%, to settle at 36,620, marking its biggest single-day percentage gain in 10 sessions.
On the one hand, shares of utility, real estate, and healthcare companies trended lower. On the other hand, a solid intraday rally in mining, consumer cyclical, and industrial stocks fueled broad buying momentum and helped the TSX benchmark trim its weekly losses to 0.3%.
Top TSX Composite movers and active stocks
Denison Mines, Ero Copper, Energy Fuels, and G Mining Ventures were the top-performing TSX stocks for the day, with each jumping by at least 8.6%.
Shares of Canadian Pacific Kansas City (TSX: CP), or CPKC, also trended higher after the railway announced an end to a nearly three-month strike involving about 300 employees across Canada. The International Brotherhood of Electrical Workers agreed to enter into binding arbitration, ending the strike that began on May 31.
CPKC said the affected employees would return to work beginning Monday morning. The resolution of the prolonged labour dispute eased operational uncertainty and helped lift CP stock. So far in 2026, the stock has risen nearly 32%.
In contrast, Seabridge Gold, Bausch Health, Boyd Group Services, and Canadian Utilities plunged by at least 3.6% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, Enbridge, Canadian Natural Resources, B2Gold, Denison Mines, and Telus were the five most active stocks on the Toronto Stock Exchange.
TSX today
Gold and natural gas prices rose sharply in early Monday trading, while oil prices showed weakness. Given the TSX’s heavy exposure to commodity-linked companies, these mixed trends could lift mining stocks while weighing on energy stocks at the open today.
However, investors may remain cautious after U.S.-Canada trade talks collapsed late Friday, triggering fresh 50% U.S. tariffs on a range of Canadian goods. Prime Minister Mark Carney said Canada will respond with matching tariffs from September 8, raising concerns about renewed pressure on trade-sensitive industries and the broader economic outlook.
TSX investors will also monitor Washington’s expected announcement of tougher sanctions on Iran today, which could influence oil prices and global risk sentiment, while keeping market volatility in focus.
Market movers on the TSX today
