Easing geopolitical tensions, declining Treasury bond yields, and firm metals prices continued to drive Canadian stocks higher for the fourth consecutive session on Tuesday, with investors also awaiting the U.S. Federal Reserve’s interest rate decision and economic projections. The S&P/TSX Composite Index climbed by 114 points, or 0.3%, to close at a new all-time high of 35,390 — extending its quarter-to-date gains to 8%.
On the one hand, consistently falling crude oil prices weighed on energy stocks, with some other key sectors like utilities and consumer staples also ending the day in negative territory. On the other hand, strong gains in mining, industrial, and financial shares were enough to lift the TSX benchmark to yet another record level.
Top TSX Composite movers and active stocks
SSR Mining (TSX:SSRM) jumped by more than 10% to $44.58 per share, making it the top-performing TSX stock for the day. In addition to strengthening metals prices, this rally in SSRM stock was also backed by the company’s announcement of an additional US$500 million share-repurchase program and the reinstatement of its quarterly dividend.
The gold and silver miner highlighted its strong financial position, backed by ongoing free cash flow generation and the expected US$1.5 billion cash sale of its Çöpler mine. SSR Mining’s board also signaled plans to declare a quarterly cash dividend of US$0.03 per share with its second-quarter results, boosting investor confidence in its shareholder return strategy.
Discovery Silver, Centerra Gold, and Lundin Gold were also among the day’s top gainers on the Toronto Stock Exchange, with each surging by at least 3.9%.
In contrast, shares of Gildan Activewear (TSX:GIL) tanked by nearly 19% after short seller Jehoshaphat Research published a critical report alleging that the apparel maker has been artificially boosting revenue growth through aggressive “channel stuffing” practices.
In response, however, Gildan said it’s confident that its disclosures provide investors with accurate and comprehensive information regarding its financial reporting and governance practices, while reaffirming its fiscal 2026 guidance.
TerraVest Industries, Celestica, and Montage Gold also fell by more than 4% each, making them among the day’s worst-performing TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, B2Gold, Barrick Mining, Tourmaline Oil, and Telus were the five most active stocks on Tuesday.
TSX today
In early morning trading on Wednesday, West Texas Intermediate (WTI) crude oil futures prices plunged below US$75 per barrel for the first time in more than three months, which could continue to pressure TSX energy stocks at the open today.
While no major domestic economic releases are due, Canadian investors will keep an eye on the U.S. retail sales and the Fed policy decision later in the day for clues about the health of the world’s largest economy and the future path of interest rates.
The U.S. central bank is widely expected to leave its benchmark interest rate unchanged. However, investors will closely monitor updated economic projections and comments from Fed Chair Kevin Warsh for any signals regarding inflation trends, labour market conditions, and the potential timing of future rate cuts.
These factors, coupled with geopolitical developments amid the ongoing G7 Leaders’ Summit in France, could keep TSX investors cautious but engaged throughout the session.
