After posting its worst weekly performance in over six weeks, the Canadian stock market started the new week on a positive note as rising precious metals prices and Bank of Canada governor Tiff Macklem’s remarks in support of the recent rate cut cheered investors. The S&P/TSX Composite Index inched up by 102 points, or 0.4%, to settle at 24,566 — ending its five-session losing streak.
On the one hand, massive intraday declines in crude oil and natural gas prices drove energy stocks lower. On the other hand, healthy gains in most other key sectors, including healthcare, consumer cyclicals, and financials, guided the TSX benchmark higher.
Top TSX Composite movers and active stocks
Algoma Steel, Energy Fuels, Alimentation Couche-Tard, and SSR Mining were the top-performing TSX stocks for the day, with each climbing by at least 2.9%.
In contrast, International Petroleum (TSX:IPCO) tanked by 5% to $15.87 per share, making it the…
