Stock market in Canada exhibit divergent trends; Toronto Stock Exchange experiences minor decline

In the Canadian financial landscape, Thursday saw a mixed bag of results for various companies, with some stocks soaring and others tanking.

The S&P/TSX Composite Index dipped 0.08% to 28,410.95, indicative of a weak market around early afternoon. One of the notable exceptions was Canopy Growth Corp, which bucked the trend and surged nearly 15%. However, Canada Goose Holdings saw a decline of more than 5%.

Economic indicators also painted a varied picture. Average weekly earnings in Canada accelerated from a 3.3% gain in the previous month in June 2025, reaching a year-over-year growth of 3.7% to CAD 1,302.11. This positive trend was tempered by a deterioration in the goods trade balance, as exports dropped 13.1% to C$182.2 billion in Q2 2025. The US tariffs and a stronger Canadian dollar were cited as contributing factors. Imports, on the other hand, fell 4.0% to C$201.8 billion in the same quarter.

This led to a widening of Canada's current account deficit by C$19.8 billion in Q2 2025, reaching a record C$21.2 billion.

Several other companies experienced varying fortunes. Toronto-Dominion Bank reported adjusted net income of $3,871 million for Q2 2025, but the bank's stock was down by about 4.5%. Canadian Imperial Bank of Commerce, in contrast, reported a third-quarter net income of $2,096 million and saw its stock gaining about 1.8%.

Other notable performers included Celestica, Cameco, Tilray, Mattr Corp, TransAlta, Cronos Group, NexGen Energy, and Enerflex, which saw gains of 2.5 to 4.6%. However, EQB Inc. saw a significant drop of nearly 11%.

In the broader market, several companies such as Iamgold Corp., Gran Tierra Energy, Endeavour Mining, Dundee Precious Metals, Ero Copper, Canadian National Railway, Keyera Corp., Spin Master, Magna International, Bombardier, Boralex, and Fortis, experienced declines of 1.4 to 2.7%.

Meanwhile, the new CEO of Canopy Growth Corp. remains unnamed in the given search results, with the executive leadership team for Canopy USA in 2025 including Brooks Jorgensen as President, but no mention of a new overall CEO was found related to the share price increase on Thursday.

Elsewhere, Corus Entertainment saw a surge of 11%. The new developments in the Canadian financial and economic landscape will continue to unfold in the coming days.

Stock market in Canada exhibit divergent trends; Toronto Stock Exchange experiences minor decline