Canadian stocks fell for a second straight session on Friday as sharp declines in crude oil and precious metals prices, coupled with lingering concerns about the US government shutdown and global growth prospects, weighed on investor sentiment. The S&P/TSX composite index fell 350 points, or 1.2%, to settle at 30,108, cutting the benchmark’s weekly gain to less than 1%.
While many market sectors, including consumer, real estate and industrial, saw buying activity, heavy declines in healthcare and mining stocks dragged the TSX lower.
Top TSX Composite movers and active stocks
When gold and silver prices retreated sharply, several miners of precious metals, such as Orla Mining, Discovery of silver, Endeavor SilverAnd G Mining companies each down more than 10%, making them the worst-performing TSX stocks of the day.
On the other hand, Canadian packers And Granite Real Estate Investment Trust were the best-performing TSX stocks, each up at least 4.6%.
Shares of Chartwell Retirement Homes (TSX:CSH.UN) also rose 4.4% to $20.28 per share, making it one of the biggest gainers of the session on the Toronto Stock Exchange. This rally in Chartwell shares followed a strategic update that highlighted four major acquisitions in Quebec, the launch of a new project in Calgary and the completion of $337 million in equity and debt financings.
Chartwell management also highlighted that these high occupancy properties were acquired at significant discounts to replacement cost. The optimistic response from investors could reflect growing confidence in Chartwell’s disciplined growth strategy and stronger financial positioning. After the recent rally, the stock is now trading with a gain of 35% year-to-date.
Based on their daily trading volume Sandstorm gold, Capstone Copper, Canadian natural resources, B2GoldAnd Telus were the five most active stocks on the stock exchange.
TSX today
West Texas Intermediate crude oil futures prices continued to trade in negative territory Monday morning, raising the risk of continued selling pressure on TSX energy stocks at the open today.
While there are no major domestic economic releases this morning, Canadian investors will continue to closely monitor global macro developments, especially any updates on the US government shutdown and global trade.
Later this week, investors will also turn their attention to a series of key corporate earnings reports and consumer inflation data.
On the corporate events side Prairiesky Royalty will announce its latest quarterly financial results after the market closing bell.
Market movements on the TSX today
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