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The TSX fell 3.7% last week to 33,084 as global markets pulled back amid a surge in oil prices and weak U.S. jobs data, triggering a broad risk-off move across equities and bonds.
Oil jumped more than 30%, pushing Canadian 10-year government bond yields up to 3.41%.
For Canada, higher oil prices could support growth since the energy sector represents about 6% of GDP and over a quarter of exports, though inflation risks remain.
Markets currently expect the Bank of Canada to keep rates around 2.25% in the near term despite rising inflation concerns.
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Here's a summary of the top-performing and underperforming stocks on the Toronto Stock Exchange (TSX) over the past week (Jan 20-24)
📈 Top Gainers
Symbol | Name | Last Price (CAD) | % Change |
|---|---|---|---|
VerticalScope Holdings Inc | $3.49 | 🟩🟩🟩 +10.79% | |
Cardinal Energy Ltd Wts | $3.35 | 🟩🟩🟩 +9.84% | |
Aecon Group Inc | $40.41 | 🟩🟩🟩 +7.53% | |
Frontera Energy Corp | $13.09 | 🟩🟩🟩 +7.21% |
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📉 Bottom Losers
Symbol | Name | Last Price (CAD) | % Change |
|---|---|---|---|
Profound Medical Corp | $7.08 | 🟥🟥 -29.20% | |
McCoy Global Inc | $2.68 | 🟥🟥 -18.29% | |
Methanex Corp | $67.53 | 🟥🟥 -13.42% | |
Algonquin Power & Utilities Corp | $8.35 | 🟥🟥 -11.55% |
📰 Market Highlights
VerticalScope Holdings Inc (FORA-T): The stock jumped 10.79% this week as investors reacted positively to expectations of stronger future earnings and improving sentiment around the company’s digital community platform business. Analysts continue to see long-term growth potential from its portfolio of niche online communities and advertising-driven revenue model.
Aecon Group Inc (ARE-T): Shares rose 7.53% after renewed optimism around infrastructure spending in Canada and the U.S. boosted construction and engineering stocks. Aecon is benefiting from a strong backlog of large infrastructure and energy transition projects, which investors expect will support revenue growth through 2026.
Profound Medical Corp (PRN-T): The stock dropped 29.20% this week following volatility around its recent earnings report and concerns about slower-than-expected revenue growth for its MRI-guided therapeutic systems business. Despite strong technology adoption potential, investors reacted cautiously to the company’s near-term financial outlook.
McCoy Global Inc (MCB-T): Shares declined 18.29% as energy-service stocks faced selling pressure amid uncertainty around drilling activity and capital spending by oil producers. Investors appear cautious about near-term demand for McCoy’s oilfield equipment and technology solutions.