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TSX Today: What to Watch for in Stocks on Tuesday, April 21

Alex Smith

Alex Smith

4 hours ago

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TSX Today: What to Watch for in Stocks on Tuesday, April 21

Cooler-than-expected domestic consumer inflation data helped Canadian equities start the new week on a positive note, even as renewed geopolitical tensions in the Middle East rattled commodity markets. The S&P/TSX Composite Index ended the volatile session with a minor 14-point gain at 34,360 — inching closer to its record highs.

Despite gains in growth-oriented sectors like technology, healthcare, and consumer cyclicals, weakness in mining and utility stocks pressured the TSX benchmark, preventing a stronger breakout.

While March inflation data showed Canada’s consumer price index (CPI) rose 2.4% year over year, much of that increase was driven by energy costs as gasoline prices surged 21.2% month over month. This kept hopes for future rate cuts intact, even as renewed Middle East tensions pushed oil higher again after the U.S. seized an Iranian-flagged cargo ship and Iran warned of retaliation, keeping TSX energy shares and broader market sentiment volatile.

Top TSX Composite movers and active stocks

Superior Plus (TSX:SPB) jumped by nearly 14% to $7.14 per share, making it the top-performing TSX stock for the day. This rally in SPB stock came after the Toronto-based company announced strong growth momentum in its compressed natural gas business through its subsidiary Certarus.

More importantly, Superior Plus also secured multiple new contracts, including a major two-and-a-half-year deal to supply natural gas for a large data centre project, expected to generate over $300 million in revenue. SPB stock surged as investors reacted positively to the new high-value contracts and the company’s strategic push into a rapidly expanding energy market, signaling stronger future growth potential.

Similarly, shares of BlackBerry (TSX:BB) also gained 13% after the Canadian software firm expanded its collaboration with U.S.-based technology giant NVIDIA to advance safety-critical artificial intelligence (AI) systems.

The partnership will integrate BlackBerry’s QNX operating system with NVIDIA’s advanced computing platform to support applications in robotics, medical devices, and industrial systems. This deeper partnership with NVIDIA highlighted BlackBerry’s growing presence in high-value AI and industrial technology markets, triggering a buying spree in BB stock.

Curaleaf and Parex Resources were also among the day’s top gainers on the Toronto Stock Exchange, with each climbing by at least 5.5%.

However, TSX-listed mining stocks like Montage Gold, Discovery Silver, IAMGOLD, and Silvercorp Metals slipped by at least 3.5% each, making them the session’s worst-performing stocks.

Based on their daily trade volume, Canadian Natural Resources, BlackBerry, Enbridge, Royal Bank of Canada, and TC Energy were the five most active stocks on the exchange.

TSX today

Crude oil prices inched up in early Tuesday morning trading, but precious metals continued to slide as investors monitored another round of uncertainty around Middle East shipping routes and diplomacy. While the U.S. seizure of an Iranian-flagged cargo ship recently raised concerns about disruption in the Strait of Hormuz, Iran said it has not yet decided whether to join a new round of talks.

Although no major domestic economic releases are due, Canadian investors may want to keep an eye on the latest retail sales and pending home sales data from the U.S. this morning. In addition to geopolitical developments, these key economic reports could influence broader North American market sentiment and set the tone for TSX trading direction through the session.

Market movers on the TSX today

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