TSX Today: What to Watch for in Stocks on Friday, July 10

A day after posting its biggest single-day decline in over a month, the Canadian stock market staged a recovery on Thursday as investors continued to assess the latest developments in the U.S.-Iran conflict and reacted positively to a recovery in metals prices. The S&P/TSX Composite Index climbed by 265 points, or 0.8%, to settle at 35,200, reclaiming the key 35,000 mark.

Despite declines in energy and utility stocks, strong gains in other main sectors like mining, technology, and financials more than offset those losses, lifting the TSX benchmark and trimming its week-to-date losses to 0.2%.

Top TSX Composite movers and active stocks

First Majestic Silver (TSX:AG) jumped by nearly 9% to $24.35 per share, making it the top-performing TSX stock for the day. This rally in AG stock came after the Vancouver-based mining company posted stronger second-quarter production and raised its 2026 output guidance.

Last quarter, First Majestic’s silver production rose 3% year over year (YoY) to 3.8 million ounces, while gold output increased 2% to 34,660 ounces, supported by strong performance at La Encantada and Santa Elena. First Majestic lifted its full-year silver production forecast by 10% and raised its gold outlook by 7%.

G Mining Ventures (TSX:GMIN) was also among the top gainers on the Toronto Stock Exchange, with its shares climbing more than 8% after the company reported stronger second-quarter production from its Tocantinzinho gold mine in Brazil. Investors welcomed the company’s improving operational momentum and appeared to show confidence that its production and grades will increase further in the second half of the year.

DPM Metals and Trekor Metals were also among the day’s top performers as they rose by at least 8% each.

In contrast, shares of Richelieu Hardware (TSX:RCH) dived by 8.9% after the company released its second-quarter earnings report, which showed its sales rising 3.9% YoY.

However, Richelieu Hardware’s EBITDA (earnings before interest, taxes, depreciation, and amortization) margin narrowed slightly to 10.6%, while cash generated from operating activities declined due to higher working capital requirements. These margin pressures and softer cash flow seemingly disappointed investors.

MDA Space, Spartan Delta, and Maple Leaf Foods were also among the session’s worst-performing TSX stocks, with each plunging by over 4%.

Based on their daily trade volume, Canadian Natural Resources, TD Bank, Scotiabank, InterRent REIT, and BlackBerry were the five most active stocks on the exchange.

TSX today

Commodity prices across the board remained muted in early trading on Friday, pointing to a cautious start for the resource-heavy main TSX index today.

In addition to the domestic jobs report for June this morning, Canadian investors will continue tracking developments in the Middle East after the U.S. and Iran exchanged another round of military strikes. Market participants will also monitor any updates on efforts to keep diplomatic channels open after the U.S. indicated that technical talks with Iran would continue, even as military tensions remain elevated.

Meanwhile, Prime Minister Mark Carney’s visit to Saudi Arabia and Canada’s calls to keep the Strait of Hormuz open to commercial shipping could also remain on TSX investors’ radar, given the waterway’s importance to global energy markets.

Market movers on the TSX today

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  Fool contributor Jitendra Parashar has positions in BlackBerry, Canadian Natural Resources, MDA Space, and Toronto-Dominion Bank. The Motley Fool recommends Bank Of Nova Scotia, Canadian Natural Resources, MDA Space, and Richelieu Hardware. The Motley Fool has a disclosure policy.