Despite weaker metals prices amid geopolitical risks, the Canadian stock market staged a recovery on Wednesday as surging natural gas prices, renewed buying in tech stocks, and fresh corporate earnings helped improve investor sentiment. The S&P/TSX Composite Index climbed by 241 points, or 0.7%, to settle at 36,412 – extending its month-to-date gains to 2.2%.
Even as some key sectors like mining and real estate faced selling pressure, solid gains in energy, technology, and heavyweight industrial stocks helped lift the TSX benchmark.
Top TSX Composite movers and active stocks
Kinaxis (TSX: KXS) jumped 6.4% to $229.37 per share, placing it among the session’s top-performing TSX stocks. This rally in KXS stock came after the Ottawa-based supply chain software provider announced that the Toronto Stock Exchange had approved its new share buyback program.
Under this plan, Kinaxis can repurchase up to 2.7 million of its common shares, representing roughly 10% of its publicly available shares, between November 13, 2026, and November 12, 2027. Notably, the company bought back and cancelled more than 1.5 million shares under its previous repurchase program. The renewed buyback approval appeared to boost investor confidence in KXS stock, helping fuel its rally.
Celestica, Bird Construction, and Parex Resources were also among the day’s top gainers, with each climbing by at least 5.3%.
In contrast, shares of Lithium Americas (TSX: LAC) plunged by 12.3% after the Vancouver-based lithium developer released its third-quarter 2026 results and updated construction costs for its Thacker Pass project in Nevada. The company raised its estimated cost for the project’s first phase to US$3.83 billion from US$2.93 billion, reflecting an increase of nearly 31%.
Lithium Americas attributed the higher costs mainly to rising labour expenses, construction challenges, tariffs, and logistics costs. Despite reporting continued construction progress and targeting mechanical completion by late 2027, the sharp increase in project costs raised investor concerns about its future profitability, triggering a selloff in LAC stock.
Boyd Group Services, Superior Plus, and Eldorado Gold were also among the day’s worst-performing TSX stocks, with each slipping by at least 5.4%.
Based on their daily trade volume, Enbridge, BlackBerry, Telus, Whitecap Resources, and Ivanhoe Mines were the five most active stocks on the exchange.
TSX today
Natural gas prices reached their highest level since January in early Thursday trading, which could help TSX energy stocks extend their gains at the open today. However, most other commodity prices, including oil, gold, and silver, trended lower in early morning trading, potentially limiting the broader TSX benchmark’s upside.
With no major economic releases due, Canadian investors could find some encouragement in signs that Washington remains reluctant to resume large-scale military operations against Iran.
Meanwhile, investors will assess the latest quarterly results from Exchange Income, Northland Power, Stantec, G Mining Ventures, Sienna Senior Living, DPM Metals, Choice Properties REIT, Birchcliff Energy, Hudbay Minerals, Brookfield, and Canadian Tire, which could influence trading in their respective stocks.
Market movers on the TSX today
