Canadian equities continued to decline for the fourth consecutive session on Thursday as falling metals prices and concerning geopolitical and trade uncertainties kept investors cautious. The S&P/TSX Composite Index fell 81 points, or 0.2%, to settle at 35,155.
Despite buying in technology and energy stocks, continued weakness in other key market sectors like mining, industrials, and consumer cyclicals dragged the TSX benchmark down.
Top TSX Composite movers and active stocks
DPM Metals, Trekor Metals, Saputo and Montage Gold dived by 3.9% each, making them the worst-performing TSX stocks for the day.
In contrast, Enerflex (TSX: EFX) was the top-performing TSX stock, as its shares jumped nearly 12% to $36.23 each. This rally in EFX stock came after the Calgary-based company secured a major Engineered Systems contract for a large-scale North American data centre development.
Under the contract, Enerflex will design, engineer, fabricate, and assemble about 450 megawatts of behind-the-meter natural gas-fired power generation units, with deliveries scheduled to begin in 2027 and finish in 2028. The company also said its opportunity pipeline for power generation projects continues to exceed 2 gigawatts. The sizeable contract and Enerflex’s growing exposure to power demand from artificial intelligence and digital infrastructure boosted investor optimism.
5N Plus, Aecon, and CGI also jumped by at least 4.2% each, making them the session’s top gainers on the Toronto Stock Exchange.
According to the exchange’s daily trade volume data, Canadian Natural Resources, Scotiabank, Telus, First Quantum Minerals, and Suncor Energy were the five most active stocks.
TSX today
Crude oil prices fell sharply while gold and silver climbed in early trading on Friday. While lower crude prices may weigh on TSX energy stocks, stronger precious metals prices could provide some support to mining shares and help offset weakness elsewhere in the market.
With no major domestic economic releases due, TSX investors will keep an eye on the key U.S. jobs report this morning.
Canadian investors will also continue to monitor developments in the Canada-U.S. trade dispute. Recently, U.S. Trade Representative Jamieson Greer said that several outstanding issues with Canada remain difficult to resolve, even as technical discussions continue between the two sides. He also indicated that Washington remains open to an agreement but is not seeking to eliminate tariffs entirely.
Meanwhile, geopolitical developments in the Middle East could keep energy and broader financial markets volatile.
Market movers on the TSX today
