Canadian stocks staged a strong recovery on Thursday as renewed buying across several major sectors helped the TSX bounce back sharply from its lowest level in over a month. The S&P/TSX Composite Index rallied by 383 points, or 1.1%, to settle at 35,874, marking its biggest single-day percentage gain in nine sessions.
As investors reacted positively to efforts to strengthen economic ties with Europe, sentiment also improved across several major market sectors. Despite minor weakness in consumer cyclical and tech stocks, strong buying in the shares of mining, financials, and industrial companies lifted the TSX benchmark.
Top TSX Composite movers and active stocks
Americas Gold and Silver (TSX: USA) jumped by nearly 11% to $7.09 per share, making it the day’s top-performing TSX stock. This rally in USA stock came after the miner announced some of its strongest drill results to date from the Cosalá Complex in Mexico.
Notably, Americas Gold and Silver also revealed that resource conversion drilling at the San Rafael Upper and 120 zones has consistently returned grades averaging two to three times the previously reported inferred resource grades. The company believes these results could increase average silver grades and add high-grade ounces to its future Cosalá mine plan, with the findings expected to be incorporated into its next resource estimate and mine plan in 2027.
Surging metals prices also helped mining stocks like Discovery Mining, Silvercorp Metals, and Montage Gold climb by at least 8.6% each, making them among the session’s top gainers on the Toronto Stock Exchange.
In contrast, Restaurant Brands International, Rogers Communications, Boyd Group Services, and Thomson Reuters were the worst-performing TSX stocks for the day, with each slipping by at least 1.7%.
Based on their daily trade volume, Canadian Natural Resources, BCE, Manulife Financial, Telus, and Whitecap Resources were the five most active stocks on the exchange.
TSX today
Metals prices extended their gains in early trading on Friday, pointing to another potentially positive start for TSX mining shares today. Crude oil prices, meanwhile, remained under pressure after falling for a second straight session as concerns eased somewhat about disruptions to Saudi energy infrastructure.
While no major economic releases are due this morning, Canadian investors will mainly focus on fresh developments in the Canada-U.S. trade dispute and Ottawa’s efforts to deepen economic ties with Europe. The European Union (E.U.) has floated the idea of creating a new form of associate membership for Canada, although such a status does not currently exist in E.U. law and its scope remains undefined.
At the same time, Washington has tightened restrictions on Canadian-origin goods in U.S. federal procurement, keeping trade uncertainty elevated.
Investors may also watch geopolitical headlines from the Middle East, which could keep TSX trading volatile despite continued support for the mining sector.
Market movers on the TSX today
