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TSX Today: What to Watch for in Stocks on Monday, June 29

Alex Smith

Alex Smith

2 hours ago

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TSX Today: What to Watch for in Stocks on Monday, June 29

Canadian stocks trended higher for the second consecutive session on Friday as intraday gains in metals prices and flat U.S. inflation expectations supported investor sentiment. The S&P/TSX Composite Index climbed by 130 points, or 0.4%, to settle at 34,980 — concluding the volatile week in the green with a gain of 123 points.

Despite weakness in some key sectors like healthcare and consumer staples, solid gains in technology, real estate, mining, and industrial stocks pushed the TSX benchmark higher, as it finished just shy of the psychologically important 35,000 mark.

Top TSX Composite movers and active stocks

BlackBerry, Discovery Silver, Aya Gold & Silver, and Montage Gold were the top-performing TSX stocks for the day, with each climbing by at least 7.6%.

On the flip side, Bausch Health Companies, Celestica, Brookfield Business Holdings, and 5N Plus slipped by at least 2.1% each, making them among the day’s worst-performing stocks on the Toronto Stock Exchange.

Shares of Metro (TSX:MRU) also fell 1.3% after the grocery retailer warned that an ongoing strike by unionized employees at its Laval produce distribution centre, transportation, and head office is likely to hurt its June quarter earnings.

Metro said its same-store food sales declined 1.5% over the first 14 weeks of the quarter due to supply disruptions. The company now expects adjusted quarterly earnings of $1.22 to $1.27 per share, down from $1.52 a year ago. While its contingency plan has stabilized store replenishment, negotiations with the union remain at an impasse after the latest counteroffer was rejected.

According to the exchange’s daily trade volume data, Canadian Natural Resources, BlackBerry, Suncor Energy, TC Energy, and Manulife Financial were the five most active TSX stocks.

TSX today

Crude oil, gold, and silver prices were largely mixed in early trading on Monday, as investors assessed reports that the U.S. and Iran have agreed to pause their recent exchange of strikes and resume talks aimed at preserving their broader memorandum of understanding.

The apparent de-escalation, if sustained, could help ease concerns over supply disruptions in the Strait of Hormuz, although traders are likely to remain alert for any renewed tensions.

While no major economic releases are due this morning, Canadian investors will continue to closely monitor commodity markets and geopolitical developments for further direction.

Market movers on the TSX today

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