Declining Treasury bond yields and renewed buying in growth-oriented stocks drove Canadian equities higher for the sixth consecutive session on Tuesday, registering the market index’s longest winning streak since August 2024. As investors continued to assess the impact of the new U.S. administration’s moves on trade and geopolitics, the S&P/TSX Composite Index rose by 110 points, or 0.4%, yesterday to settle at 25,282 — its highest closing level in over a month.
Despite weakness in the healthcare sector, continued buying in technology, consumer discretionary, and financial stocks guided the TSX upward.
Top TSX Composite movers and active stocks
Energy Fuels, NexGen Energy, Torex Gold, and Transcontinental were the top-performing TSX stocks yesterday as they inched up by at least 3.4% each.
In contrast, Aya Gold & Silver (TSX:AYA) tanked by 6.1% to $11.34 per share, making it the worst-performing TSX stock for the day. Despite a nearly 1.3% intraday surge in gold spot prices, this selloff in AYA stock came after the Canadian precious metals producer gave an update on its annual drill exploration activities.
Aya Gold & Silver claimed that its exploration results at its Zgounder Silver mine and Boumadine project in Morocco remained strong last year. The company drilled over 150,000 meters in 2024 and expanded its exploration area at Boumadine to 252.5 square kilometres. However, some drilling targets, such as Zgounder South and Southeast, yielded only anomalous results, which could be one of the reasons for disappointing investors.
Bombardier, Cargojet, and Innergex Renewable Energy were also among the session’s bottom performers on the Toronto Stock Exchange, with each diving by at least 4.3%.
According to the exchange’s daily trade volume data, Canadian Natural Resources, TD Bank, Royal Bank of Canada, Enbridge, and Veren were the five most active stocks.
TSX today
Gold and silver prices extended their rally in early morning trading on Wednesday, while crude oil, natural gas, and copper were bearish. This mixed movement in commodity prices could lead to a muted start for the resource-heavy TSX Composite Index today.
On the economic data front, in addition to the domestic retail sales numbers, Canadian investors may want to keep an eye on the weekly jobless claims and crude oil inventories from the United States this morning. Meanwhile, investors will continue to assess U.S. president Donald Trump’s early decisions and their potential implications.