Canadian stocks jumped sharply on Monday as surging metals prices, easing inflation concerns amid weakening oil prices, falling Treasury bond yields, and renewed hopes of a diplomatic resolution to the U.S.-Iran conflict helped improve investor sentiment. The S&P/TSX Composite Index jumped 657 points, or 1.8%, to 36,446 – marking its highest close in over two months.
While all key market sectors ended the session in the green, the TSX rally was mainly driven by solid intraday gains in mining, financial, and industrial stocks. This rally extended the TSX benchmark’s year-to-date gains to roughly 15%.
Top TSX Composite movers and active stocks
Hammond Power Solutions, Energy Fuels, Silvercorp Metals, and Hudbay Minerals were the top-performing TSX stocks for the day, with each surging by more than 9%.
In contrast, Curaleaf, Constellation Software (TSX: CSU), Thomson Reuters, and Vermilion Energy plunged by at least 2.5% each, making them the session’s worst-performing TSX stocks.
The weakness in Constellation Software stock came after the Toronto-headquartered tech firm released its third-quarter 2026 financial results. Its quarterly revenue jumped 19% year-over-year with the help of acquisitions, while organic revenue growth remained modest at just 2%.
Meanwhile, Constellation’s net profit edged up to US$212 million from US$210 million a year ago, but its free cash flow fell 16% to US$443 million in the latest quarter. Despite strong overall revenue growth, sluggish organic growth and declining free cash flow disappointed investors, putting pressure on CSU stock.
Based on their daily trade volume, Enbridge, Suncor Energy, Canadian Natural Resources, Telus, and Manulife Financial were the five most active stocks on the Toronto Stock Exchange.
TSX today
Commodity prices across the board, including oil and gold, fell sharply in early Tuesday trading, which will pressure the resource-heavy main TSX index at the open today.
While no major domestic economic releases are due, Canadian investors may want to keep a close eye on the key U.S. consumer inflation report this morning. The U.S. inflation figures could provide fresh clues about the Federal Reserve’s next interest rate decisions, potentially influencing bond yields and broader equity market sentiment.
Meanwhile, geopolitical developments will remain in focus after President Donald Trump suggested that renewed military strikes against Iran were highly unlikely, even as reports of fresh security threats highlighted lingering tensions in the Middle East.
On the trade front, Ottawa announced an extension of tariff relief measures on certain U.S. imports until June 30, 2028, while expanding support for Canadian mining and energy businesses.
Investors will also monitor quarterly earnings releases from several TSX-listed companies, including CCL Industries, Strathcona Resources, Freehold Royalties, Altius Minerals, Superior Plus, Finning International, Discovery Mining, Hydro One, and Keyera, today.
Market movers on the TSX today
