Nearly all major market sectors ended the session on a negative note, but the TSX sell-off was mainly driven by massive losses in technology and mining stocks.
Top TSX Composite movers and active stocks
Shares of Pet Value Holdings (TSX:PET) fell over 16% to $29.95 each, making it the worst performing TSX stock of the day. The selloff in PET shares came after the Markham-based pet food retailer posted mixed third-quarter results and cut its full-year guidance.
While Pet Valu’s total revenue rose nearly 5% year over year to $289.5 million in the September quarter, adjusted profits and profit margins fell. Investors also reacted to the company tightening its 2025 forecast, which now expects revenue between $1.175 billion and $1.185 billion, and slightly lower profit expectations. Despite the recent sell-off, PET shares are still up nearly 19% this year.
New gold, Aya gold and silverAnd G Mining companies were also among the bottom performers on the Toronto Stock Exchange, each down more than 8%.
On the other hand, International Petroleum (TSX:IPCO) rose 3.7% after reporting third-quarter results and announcing early progress on a key development project. The company’s average production in the last quarter was almost 45,900 barrels of oil equivalent per day – above expectations, while the Blackrod Phase 1 project is now expected to deliver first oil a quarter ahead of schedule.
Waste connections And Fortis were also among the top gainers of the session on the TSX as they rose at least 1.8%.
According to the exchange’s daily trading volume data, B2Gold, Canadian natural resources, Enbridge, TC EnergyAnd Manulife financial were the five most active stocks.
TSX today
After falling the previous session, crude oil and precious metals prices rebounded in early trading Wednesday, which could provide some support for TSX energy and mining stocks open today.
However, macroeconomic uncertainties and growing fears of a near-term market correction may continue to limit investors’ appetite for risk.
Meanwhile, Canadian investors will be paying close attention to updates from key TSX-listed companies reporting earnings today, including Nutrients, easy, Open text, Sun life financially, WSP worldwide, Kinaxis, Great West Lifeco, Air Canada, C.G.I, Brookfield Renewable Partners, ATS, Cameco, Stella Jones, Sprat, Maple leaf foodAnd IGM Financial. Any surprises, positive or negative, could contribute to sector-specific swings as earnings season progresses.
Market movements on the TSX today
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