From The Motley Fool: 2024-05-10 09:00:00

Canadian stocks continued their upward trend on Thursday, boosted by higher commodity prices and positive data from the Bank of Canada’s Financial Stability Report. The S&P/TSX Composite Index hit a new intraday high and closed at a record level of 22,376. Financials, utilities, and commodity-linked stocks led the gains.

Wesdome Gold Mines was the top-performing TSX stock, soaring over 11% after reporting a 31.6% increase in first-quarter revenue. Strong gold production helped Wesdome achieve seven cents per share in adjusted earnings. Other top gainers included Pan American Silver, Torex Gold Resources, and Fortuna Silver Mines.

On the flip side, MDA, Pet Valu, goeasy, and Equinox Gold were the worst-performing TSX stocks, dropping by at least 5.6%. Enbridge, Suncor Energy, Manulife Financial, B2Gold, and Barrick Gold were the most active stocks on the exchange based on trade volume.

Friday morning saw further gains in crude oil, natural gas, and metals prices, driven by escalating tensions in the Middle East. This could boost the TSX index today. Canadian investors are keeping an eye on employment change and unemployment rate data. Companies like Constellation Software, Enbridge, Crescent Point Energy, Onex, CI Financial, and Algonquin Power & Utilities will announce their quarterly results on May 10.



Read more at The Motley Fool: TSX Today: Tracking Stocks on Friday, May 10 — After Market Hits Historic Highs