Canadian equities started the new week on a mixed note as investors continued to watch geopolitical developments and commodity market volatility, while adjusting their positions ahead of the U.S. inflation data and the Bank of Canada’s (BoC) rate decision due this week. A day after posting their biggest single-day decline in over three months, the S&P/TSX Composite Index recovered by 65 points, or 0.2%, to settle at 34,479.
Even as technology and financial stocks rebounded in intraday trading, steep declines in other key sectors like healthcare, utilities, and real estate pressured the TSX benchmark, trimming its gains by the closing bell.
Top TSX Composite movers and active stocks
Birchcliff Energy, Badger Infrastructure Solutions, 5N Plus, and Ero Copper were the top-performing TSX stocks, as they jumped by at least 4.4% each.
Fairfax Financial Holdings (TSX:FFH) also traded positively after the Toronto-headquartered insurance and investment giant increased its stake in Orla Mining by converting US$150 million of convertible notes into 26.6 million common shares.
The transaction lifted Fairfax’s ownership position in Orla to about 15.7% on a non-diluted basis, showing its confidence in the gold miner’s long-term growth prospects. Investors appeared to view this move as a strategic deployment of capital into a resource firm that Fairfax has backed for years. Notably, FFH stock has risen 7% over the last five sessions.
In contrast, Seabridge Gold, goeasy, Bausch Health, and Curaleaf slipped by at least 3.8% each, making them the worst-performing TSX stocks for the day.
Based on their daily trade volume, Suncor Energy, Canadian Natural Resources, Telus, Enbridge, and BlackBerry stood out as the most active stocks on the Toronto Stock Exchange.
TSX today
Oil prices came under pressure Tuesday morning, with West Texas Intermediate crude falling sharply, while copper gained ground and precious metals traded mixed. These moves could result in a muted opening for the commodity-heavy TSX index today.
Although no major economic releases are due this morning, Canadian investors will continue to assess developments in the Middle East after Israel and Iran stepped back from their latest exchange of strikes, helping ease immediate concerns about a broader regional escalation. However, uncertainty around U.S.-Iran negotiations remains, with officials on both sides signalling that key issues are yet to be resolved.
In addition, investors may remain cautious ahead of Wednesday’s U.S. consumer inflation report and the BoC’s interest rate decision. These closely watched events could set the tone for broader market sentiment.
Market movers on the TSX today
