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TSX Today: What to Watch for in Stocks on Tuesday, June 23

Alex Smith

Alex Smith

2 hours ago

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TSX Today: What to Watch for in Stocks on Tuesday, June 23

Despite slightly hotter-than-expected domestic consumer inflation data, Canadian stocks started the new week on a slightly positive note as a rebound in metals prices and prospects of a final U.S.-Iran deal lifted investor sentiment. The S&P/TSX Composite Index rose by 145 points, or 0.4%, on Monday to settle at 35,002 — ending its three-session losing streak.

While many key sectors, such as technology, real estate, and consumer staples, trended lower, renewed buying in mining, energy, and utility stocks drove the TSX benchmark higher.

Top TSX Composite movers and active stocks

Alamos Gold (TSX:AGI) was the top-performing TSX stock for the day, as its shares climbed nearly 8% to $45.22 apiece. This rally in AGI stock came after the company reported new high-grade exploration results from its Island Gold District in Ontario.

Alamos said its drilling activity defined high-grade mineralization across several areas that could become additional sources of higher-grade mill feed for the expanded Magino mill. The update boosted investor confidence that Island Gold could boost the company’s production over time.

AtkinsRéalis Group (TSX:ATRL) also jumped more than 6% to $92.09 per share after the company welcomed Canada’s new Nuclear Energy Strategy, which highlighted CANDU (Canada Deuterium Uranium) technology as central to the country’s nuclear future.

With 7,000 nuclear professionals globally, AtkinsRéalis said it is ready to work with governments and industry to advance this vision. Investors saw the update as a positive signal for the company’s long-term nuclear growth opportunities in Canada and international markets.

Transcontinental and DPM Metals also climbed by at least 4.6% each, making them among the day’s top gainers on the Toronto Stock Exchange.

In contrast, 5N Plus, Parex Resources, MDA Space, and Thomson Reuters were the session’s worst-performing TSX stocks, with each slipping by at least 4.8%.

Based on their daily trade volume, Canadian Natural Resources, Telus, Suncor Energy, Baytex Energy, and B2Gold were the five most active stocks on the exchange.

TSX today

Commodity prices across the board, including crude oil and metals, fell sharply in early morning trading on Tuesday, which could pressure the resource-heavy main TSX index at the open today.

While no major domestic economic releases are due, Canadian investors may want to keep an eye on the latest manufacturing and services data from the U.S. this morning.

In addition, investors will likely continue tracking U.S.-Iran technical talks after mediators said the first round made encouraging progress and both sides agreed on a 60-day roadmap toward a final deal. Any further signs of safe passage through the Strait of Hormuz could keep oil prices under pressure.

Market movers on the TSX today

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