TSX Today: What to Watch for in Stocks on Friday, April 17

The Canadian stock market turned negative on Thursday as investors continued to assess persistent geopolitical uncertainty and mixed signals around global energy markets. A day after reaching its highest level in over six weeks, the S&P/TSX Composite Index slipped by 104 points, or 0.3%, to 34,052 — ending its four-day winning streak.

Despite continued gains in real estate and tech stocks, steep declines in other key sectors like industrials, financials, and consumer staples dragged the TSX benchmark down.

Top TSX Composite movers and active stocks

Air Canada, CAE, IAMGOLD, and Bombardier were the worst-performing TSX stocks for the day, as they plunged by at least 3.2% each.

Despite the broader market weakness, BlackBerry (TSX:BB) stock rallied by nearly 14% to $6.42 per share, making it the day’s top-performing TSX stock. This rally in BB stock came after the Waterloo-based software firm announced a strategic partnership with The IP Company to deliver highly secure communications solutions for naval and military use.

The collaboration will integrate BlackBerry’s SecuSUITE platform into The IP Company’s long-standing naval communication systems. The move is aimed at enabling secure communication across critical defence operations, including classified environments. BlackBerry stock jumped as investors reacted positively to the defence-focused partnership, which highlights its growing role in secure communications and its potential to tap into high-value government and military markets.

Shares of First Capital Real Estate Investment Trust (TSX:FCR.UN) also popped by 8% to $23.59 per unit after the company announced a $9.4 billion acquisition deal with KingSett Capital and Choice Properties REIT.

Under the agreement, First Capital REIT’s unitholders will receive total consideration of $24.40 per unit, representing a 17% premium to its recent trading average and an 8% premium to its net asset value. The transaction has received unanimous support from First Capital’s board and is expected to close in the second half of 2026.

BRP and Lithium Americas were also among the session’s top gainers on the Toronto Stock Exchange, with each climbing by more than 6%.

Based on their daily trade volume, Canadian Natural Resources, Cenovus Energy, First Capital REIT, Baytex Energy, and Telus were the five most active stocks on the exchange.

TSX today

Crude oil prices fell to their lowest level in over a month in early Friday trading amid cautious optimism after a temporary 10-day ceasefire between Israel and Lebanon aimed at enabling fresh negotiations. While the truce has raised hopes of broader de-escalation, reports of minor violations and Iran’s push for a more comprehensive deal highlight ongoing uncertainty.

For TSX investors, the key focus remains on oil market stability, as the Strait of Hormuz — which handles a significant share of global crude shipments — continues to face disruptions. As a result, Canadian energy stocks may stay volatile despite the recent pullback in crude prices, while any sustained diplomatic progress could help improve overall market sentiment.

Overall, the TSX benchmark seems on track to end the fourth consecutive week in the green as it currently trades with a 1.1% weekly gain.

Market movers on the TSX today

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  The post TSX Today: What to Watch for in Stocks on Friday, April 17 appeared first on The Motley Fool Canada.

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  More reading

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  Fool contributor Jitendra Parashar has positions in Air Canada, BlackBerry, and Canadian Natural Resources. The Motley Fool recommends Air Canada, Brp, Canadian Natural Resources, First Capital Real Estate Investment Trust, and TELUS. The Motley Fool has a disclosure policy.