TSX Today: What to Watch for in Stocks on Thursday, March 5

After falling sharply in the previous session, Canadian equities staged a recovery on Monday as surging oil prices amid the ongoing geopolitical conflicts in Western Asia, coupled with stronger-than-expected U.S. economic data, boosted investors’ confidence. The S&P/TSX Composite Index climbed by 158 points, or 0.5%, to settle at 33,943, trimming the benchmark’s week-to-date losses to 1.2%.

On the one hand, shares of consumer staples and utility companies trended lower as investors rotated toward more cyclical and commodity-linked names. On the other hand, gains in other key market sectors, including technology, mining, and healthcare, helped the broader market index inch up.

Top TSX Composite movers and active stocks

Shares of SSR Mining (TSX:SSRM) jumped by nearly 15% to $45.32 apiece, making it the top-performing TSX stock for the day. This rally in SSR stock came after the Denver-based precious metals mining firm entered into a binding agreement to sell its 80% stake in the Çöpler mine in Türkiye for $1.5 billion in cash. The entire purchase price is payable at closing, with a $100 million deposit and a reciprocal $50 million break fee, and the deal is expected to close in the third quarter of 2026.

SSR Mining’s management highlighted that the all-cash transaction could deliver significant net asset value and cash flow accretion relative to consensus estimates for the asset. The company also noted that proceeds will be used for reinvestment, capital returns, and accretive growth initiatives as it continues repositioning its portfolio toward the Americas. The sizable cash infusion and clearer strategic focus appeared to boost investor confidence, driving SSRM shares sharply higher.

Bitfarms, Shopify, and MDA Space were also among the day’s top gainers on the Toronto Stock Exchange, as they climbed by at least 5.9% each.

On the flip side, George Weston (TSX:WN), WSP Global, Badger Infrastructure Solutions, and Trisura Group dived by at least 2.6% each, making them the session’s worst-performing TSX stocks.

Notably, this weakness in WN stock followed George Weston’s announcement of a sharp drop of nearly 58% year over year in its fourth-quarter net earnings available to common shareholders. The decline was largely driven by an unfavourable $388 million impact from the fair value adjustment of George Weston’s Trust Unit liability, compared with a big gain in the previous year. This steep decline in its bottom-line profit seemed to weigh on sentiment, pushing WN shares lower despite its strong underlying operating performance.

Based on their daily trade volume, Canadian Natural Resources, Suncor Energy, Manulife Financial, Barrick Mining, and Enbridge stood out as the five most active stocks on the exchange.

TSX today

Commodity prices across the board were largely mixed in early trading on Thursday, pointing to a flat open for the resource-heavy main TSX index today. Oil and precious metals prices are expected to witness heightened volatility as investors continue to closely monitor escalating military developments in the Middle East and Western Asia, which don’t seem to be easing anytime soon.

While no major domestic economic releases are due, Canadian investors may want to keep a close eye on the latest weekly unemployment claims from the United States this morning.

On the corporate events front, many TSX-listed companies, including South Bow, Ero Copper, Badger Infrastructure Solutions, Methanex, Aecon Group, Headwater Exploration, Canadian Natural Resources, and Maple Leaf Foods, will release their latest quarterly earnings reports today. These reports could keep their stocks in the spotlight throughout the session and add to the market volatility.

Market movers on the TSX today

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  Fool contributor Jitendra Parashar has positions in Canadian Natural Resources, Enbridge, MDA Space, and Shopify. The Motley Fool has positions in and recommends Shopify and Trisura Group. The Motley Fool recommends Canadian Natural Resources, Enbridge, MDA Space, Methanex, and WSP Global. The Motley Fool has a disclosure policy.