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TSX Today: What to Watch for in Stocks on Friday, June 19

Alex Smith

Alex Smith

1 hour ago

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TSX Today: What to Watch for in Stocks on Friday, June 19

The Canadian stock market continued to decline for a second consecutive session on Thursday as investors continued to assess the newly signed U.S.-Iran agreement and the U.S. Federal Reserve’s updated economic projections, which pointed to a higher-for-longer interest rate environment. As a result, the S&P/TSX Composite Index fell by another 156 points, or 0.4%, to 34,969, closing below the key psychological level of 35,000 for the first time this week.

Despite intraday gains in some key sectors like industrials and real estate, sharp declines in mining and technology stocks weighed on the TSX benchmark.

The pressure on metals and mining shares was largely driven by weaker gold and silver prices as investors reduced safe-haven positions following the signing of the U.S.-Iran agreement, which eased concerns about further disruptions to global energy markets and trade flows.

Top TSX Composite movers and active stocks

AbraSilver Resource, CGI, Americas Gold and Silver, and Orla Mining were the worst-performing TSX stocks for the day, with each diving by at least 6.2%.

On the brighter side, shares of Toromont Industries (TSX:TIH) jumped 17% as investors welcomed the company’s announcement that its AVL Manufacturing division had secured approximately $1 billion in firm orders, with deliveries expected primarily in 2027.

Toromont’s latest update also highlighted its potential capacity expansion plans and strengthened the long-term growth outlook for its Power Systems segment, making TIH the day’s top-performing TSX stock.

Energy Fuels (TSX:EFR) also jumped by more than 8% to $32.39 per share after receiving a conditional commitment for up to US$725 million in long-term financing from the U.S. Office of Strategic Capital.

The funding is expected to support the expansion of Energy Fuels’s rare earth and critical minerals processing capabilities, including upgrades at the White Mesa Mill in Utah and the development of a planned rare earth metals and alloys facility in the U.S. After the recent rally, EFR stock has risen 196% over the last 12 months.

goeasy and Curaleaf were also among the session’s top gainers on the Toronto Stock Exchange, as they climbed by at least 5.9% each.

Based on their daily trade volume, Canadian Natural Resources, B2Gold, Whitecap Resources, Suncor Energy, and Telus were the five most active stocks on the exchange.

TSX today

Metal prices, including gold, silver, and copper, slid further in early trading on Friday, which could continue to pressure TSX mining stocks at the open today.

While no major economic or corporate releases are due this morning, Canadian investors will track follow-through from the U.S.-Iran deal after the U.S. lifted its naval blockade of Iran and officials signalled that talks on a final agreement are set to continue.

Any further easing in energy prices could weigh on TSX oil and gas stocks, while uncertainty around the deal’s 60-day negotiation window may keep broader market sentiment cautious.

Market movers on the TSX today

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