TSX Today: What to Watch for in Stocks on Friday, December 12

Stronger commodity prices and optimism around interest rate cuts helped lift Canadian equities for the third consecutive session on Thursday as investors continued to respond positively to recent central bank signals. The S&P/TSX Composite Index climbed by 170 points, or 0.5%, to 31,661 — reaching another record high and extending its December rally.

Despite weakness in select technology stocks, most other key market sectors trended higher, with shares of metals and mining, healthcare, and industrial companies leading the TSX rally.

Top TSX Composite movers and active stocks

TerraVest Industries (TSX:TVK) skyrocketed by more than 22% to $157.03 per share, making it the top-performing TSX stock for the day. This rally in TVK stock came after the Vegreville-based firm posted blowout fourth-quarter and full-year results (ended in September), including a 50% jump in its annual sales to $1.37 billion and a 34% surge in net profit to over $98 million.

Last quarter, TerraVest’s adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) also rose 40% year over year, reflecting contributions from its recent acquisitions and strong demand in key segments. On top of that, TerraVest announced a 14% dividend hike, triggering a buying spree. On a year-to-date basis, TVK stock is now up nearly 41%.

Perpetua Resources, New Gold, and First Majestic Silver were also among the day’s top gainers on the Toronto Stock Exchange, as they climbed by at least 6.9% each.

Despite the broader market optimism, shares of Empire Company (TSX:EMP.A) tumbled by more than 9% to $46.52 apiece after the grocer delivered weaker-than-expected second-quarter (ended in October) earnings.

Empire Company’s net profit fell 8% year over year in the latest quarter, while its adjusted EBITDA dropped 3% despite a 2.8% increase in total sales. Higher retail and supply chain costs, along with a drop in Crombie REIT earnings, weighed on Empire’s profitability, hurting investors’ sentiment.

Premium Brands, Telus, and Parex Resources also dived by at least 3.7% each, making them among the session’s worst-performing TSX stocks.

Based on their daily trade volume, Canadian Natural Resources, Cenovus Energy, Telus, Suncor Energy, and Toronto-Dominion Bank were the five most active stocks on the exchange.

TSX today

Commodity prices were largely mixed in early trading on Friday, pointing to a flat open for the resource-heavy main TSX index today.

While no major economic releases are due this morning, investor attention may shift to broader global trade cues and commodity trends for direction. Overall, with the TSX setting another record high and confidence building around more rate cuts in 2026, sentiment may continue to favor risk assets in the near term.

Market movers on the TSX today

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  Fool contributor Jitendra Parashar has positions in Canadian Natural Resources and Toronto-Dominion Bank. The Motley Fool recommends Canadian Natural Resources, Parex Resources, TELUS, and TerraVest Industries. The Motley Fool has a disclosure policy.