Canadian equities started the new week on a muted note as investors remained cautious ahead of a packed earnings calendar and key economic updates later this week. Despite reaching a fresh all-time high in intraday trading, the S&P/TSX Composite Index settled with only a three-point gain from its previous closing level, finishing the day at 27,317.
On the one hand, industrial and energy stocks remained under pressure amid investor caution around global demand trends. On the other hand, surging metals prices helped lift the mining sector, offering some balance to the broader market.
Top TSX Composite movers and active stocks
NovaGold Resources, Centerra Gold, Fortuna Mining, and Orla Mining were the top-performing TSX stocks for the day, with each climbing by at least 5.9%.
On the flip side, shares of Advantage Energy, Kelt Exploration, Peyto Exploration & Development, and Thomson Reuters slipped by over 3% each, making them the Toronto Stock Exchange’s worst performers.
Based on their daily trade volume, TC Energy, Canadian Natural Resources, Bank of Nova Scotia, Enbridge, and Cenovus Energy were the five most active stocks on the exchange.
After the market closing bell, Canadian Pacific Kansas City (TSX:CP) told investors it has partnered with the American transportation giant CSX Corporation to launch the Southeast Mexico Express (SMX), a new cross-border rail corridor linking Mexico, Texas, and the U.S. Southeast. This collaboration is expected to result in faster transit times, expanded capacity, and a more sustainable alternative to trucking for shippers across key North American markets.
With growing demand for cross-border logistics solutions, the SMX is already gaining traction among major customers like Schneider National. CPKC stock could remain in focus today as investors digest the long-term revenue potential and competitive implications of this strategic rail partnership.
TSX today
Commodity prices across the board largely remained weak in early Tuesday trading, with crude oil and natural gas both edging lower, while metals saw modest pullbacks after Monday’s rally. This mixed performance in the commodities space could weigh on the TSX at the open today, especially in resource-heavy sectors like energy and materials.
While no major economic releases are due, Canadian investors will monitor Canadian National Railway’s quarterly earnings report, set to be released after the market close. As one of the country’s largest transportation firms, CNR’s results and guidance will offer a key read on shipping volumes, trade flow trends, and overall economic activity across North America.
