Rallying metals prices and robust corporate earnings helped the Canadian stock market rebound sharply on Wednesday as investors shrugged off recent trade war concerns. The S&P/TSX Composite Index climbed by 290 points, or 1.1%, to settle at 25,570 — erasing losses from earlier in the week.
While all key market sectors ended the session in green, the TSX recovery was mainly led by solid gains in healthcare, technology, and mining stocks.
Top TSX Composite movers and active stocks
Finning International (TSX:FTT) jumped by 12.6% to $41.16 per share, making it the top-performing TSX stock for the day. This rally in FTT stock came a day after the Vancouver-based Caterpillar dealer announced its far better-than-expected fourth-quarter results.
In the quarter ended in December 2024, Finning’s total revenue rose 7.3% year over year to $2.6 billion, helping the company post record annual revenue of $10.1 billion. Higher revenue, along with operational improvements and cost discipline, drove the company’s adjusted quarterly earnings up by 72.9% from a year ago to $1.02 per share, crushing analysts’ expectations of $0.87 per share. FTT stock is now up 8.1% on a year-to-date basis and offers a 2.7% dividend yield.
SSR Mining, BlackBerry, Celestica, and Calibre Mining were also among the top gainers on the Toronto Stock Exchange, with each surging by at least 8%.
In contrast, MDA Space, FirstService, NFI Group, and Methanex slipped by at least 2.7% each, making them the session’s worst-performing TSX stocks.
Based on daily trade volume, Enbridge, Manulife Financial, Telus, BCE, and Rogers Communications were the five most active stocks on the exchange.
TSX today
Commodity prices across the board remained mixed in early morning trading on Thursday, pointing to a flat opening for the resource-heavy main TSX index today.
Besides the domestic purchasing managers’ index data, Canadian investors may also want to keep an eye on the weekly jobless claims data from the United States this morning.
As the fourth quarter corporate earnings season gains steam, several TSX-listed companies, including ARC Resources, Saputo, Open Text, IGM Financial, Bombardier, Lightspeed Commerce, Thomson Reuters, BCE, and Colliers International, will announce their latest quarterly results today, which could keep their stocks in focus.