Canadian stocks staged a recovery on Friday as hopes of U.S.-Iran diplomatic progress helped ease concerns about further disruptions to global energy supplies, leading to a decline in oil prices while metals prices strengthened. These factors, coupled with easing Treasury bond yields, drove the S&P/TSX Composite Index up by 94 points, or 0.3%, for the day to 35,801, snapping its two-day losing streak and trimming the benchmark’s weekly losses to just six points.
Despite weakness in some key sectors like technology, energy, and utilities, renewed buying in consumer cyclical, real estate, and financial stocks lifted the main TSX index.
Top TSX Composite movers and active stocks
Snowline Gold and Magna International were the top-performing TSX stocks for the day, with each climbing by at least 4.7%.
Shares of Torex Gold Resources (TSX: TXG) were also among the top gainers on the Toronto Stock Exchange, with the stock climbing 3.9% to $71.48 each. The rally followed encouraging drilling results from its Morelos Property in Mexico, where Torex said the San Miguel corridor could significantly expand its resource profile.
Torex’s recent drilling returned high-grade intercepts including 11.28 grams per tonne of gold equivalent over 31.2 metres and 10.75 grams per tonne over 20.2 metres. These strong results prompted the company to add another 13,400 metres of drilling at the Media Luna Cluster and raise its 2026 Morelos exploration budget to a record US$51 million, strengthening expectations for further reserve and resource growth.
In contrast, BlackBerry, Air Canada, Trekor Metals, and Parex Resources slid by at least 3.4% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, Telus, BlackBerry, TC Energy, and Enbridge were the five most active stocks on the exchange.
TSX today
West Texas Intermediate (WTI) crude oil futures prices crossed above US$95 per barrel in early Monday trading, while gold, silver, and copper prices registered massive losses. As higher crude amid uncertainty over U.S.-Iran relations could renew inflation concerns, and plunging metals prices could trigger another selloff in mining stocks, the TSX could come under heavy pressure at the open today.
Geopolitical risks could add further pressure on the TSX today after Washington rejected Iran’s latest seven-day ceasefire proposal, which sought to reopen the Strait of Hormuz in exchange for lifting the U.S. blockade of Iranian ports.
At the same time, Canada-U.S. trade tensions remain unresolved. Recently, U.S. Trade Representative Jamieson Greer said Washington sees no urgency to reach a deal with Canada, despite ongoing communication between officials. With additional U.S. import restrictions on certain Canadian goods approaching, trade-sensitive TSX sectors may remain under pressure.
Market movers on the TSX today
