Despite significantly hotter-than-expected U.S. wholesale inflation numbers and escalating geopolitical tensions in the Middle East, the Canadian stock market staged a sharp recovery on Thursday as surging commodity prices, easing Treasury bond yields, solid U.S. retail sales data, and renewed buying in tech stocks helped improve investor sentiment. The S&P/TSX Composite Index jumped by 553 points, or 1.6%, to settle at 36,137 – registering its biggest single-day percentage gain in more than two months and reaching its highest level in over three weeks.
Even as sharp declines in natural gas prices dragged energy shares down, strong intraday gains in most other key market sectors, including consumer staples, mining, and technology, lifted the TSX benchmark to its highest closing level since late September.
Top TSX Composite movers and active stocks
Denison Mines, Equinox Gold, Bombardier, and Lithium Americas were the top-performing TSX stocks for the day, with each climbing by more than 7%.
Lightspeed Commerce (TSX: LSPD) was also among the day’s top gainers on the Toronto Stock Exchange, as the shares rallied 5.5% to $15.47 apiece. This rally in LSPD stock came after the Montreal-based commerce technology firm announced new artificial intelligence (AI) capabilities designed to help retailers automate routine tasks and make better business decisions.
The latest update to Lightspeed’s AI platform allows retailers to analyze sales, inventory, and purchasing data; receive recommendations; and prepare actions. Lightspeed is currently rolling out these new features to select customers through an opt-in beta program, with broader availability expected soon. This expansion of its AI-powered offerings boosted investor optimism about Lightspeed’s ability to attract customers and strengthen its competitive position in the retail technology market.
Avino Silver & Gold Mines (TSX: ASM) also jumped more than 5% after the Vancouver-based precious metals miner reported higher silver production for the third quarter of 2026. The company’s silver output rose 15% year-over-year in the latest quarter, while total silver-equivalent production increased 2%. On a year-to-date basis, however, ASM stock is still down nearly 14%.
On the flip side, Enerflex, Altius Minerals, Bird Construction, and 5N Plus slipped by more than 4% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, Enbridge, Telus, TD Bank, TC Energy, and Denison Mines were the five most active stocks on the exchange.
TSX today
Metals prices extended their upward momentum in early Friday trading, which could provide further support to Canadian mining stocks at the open today after Thursday’s strong rally.
While no major economic or corporate releases are scheduled this morning, Canadian investors may want to keep an eye on fresh developments in the Middle East and ongoing trade tensions between Canada and the United States.
Recent reports suggested that the U.S. military has prepared contingency plans for possible strikes against Iranian energy and nuclear facilities, although no new attack has been ordered.
Meanwhile, the Federal Reserve’s latest Beige Book, a report published eight times a year summarizing real-time regional economic conditions across the U.S., highlighted how U.S. tariffs are raising business costs and disrupting supply chains, especially those involving Canadian companies.
Against this backdrop, commodity price movements and global market sentiment could guide whether the TSX extends its recovery today.