Canadian equities fell for the second consecutive session on Friday as the escalating U.S.-Iran conflict kept global markets on edge and weighed on commodity-linked sectors. The S&P/TSX Composite Index lost 76 points, or 0.2%, to finish at 35,264, but still remained close to its record high.
Although weaker silver and copper prices pressured metals and mining stocks, stronger crude oil prices lifted the TSX energy sector. Meanwhile, defensive sectors like utilities and consumer staples also attracted renewed buying interest amid heightened geopolitical uncertainty, helping limit the broader market’s losses.
As a result, the TSX benchmark ended the week with a drop of 41 points, ending its three-week winning streak.
Top TSX Composite movers and active stocks
On the brighter side, Wesdome Gold Mines, Extendicare, Discovery Mining, and Tamarack Valley Energy climbed by at least 2.9% each, making them the day’s top-performing TSX stocks.
Aecon Group (TSX:ARE) was also among the session’s top gainers on the Toronto Stock Exchange, as its shares rose 2.7% after an Aecon-led consortium secured an $815 million contract for the Winnipeg North End Sewage Treatment Plant Upgrade — Biosolids Facilities project.
The award follows the successful completion of the project’s collaborative development phase, with Aecon’s share of the contract set to be added to its construction backlog in the third quarter of 2026. This multi-year project strengthens Aecon’s position in North America’s growing water infrastructure market, boosting investor confidence. Following these gains, ARE stock now trades at $53.93 per share with nearly 72% year-to-date gains.
Based on their daily trade volume, BlackBerry, Canadian Natural Resources, Telus, Baytex Energy, and Whitecap Resources were the five most active stocks on the exchange.
TSX today
Commodity prices across the board showed strength in early trading on Monday, which could lift the resource-heavy TSX index at the open today.
In addition to the domestic consumer inflation report for June, Canadian investors will continue to closely monitor developments in the U.S.-Iran conflict, as a ninth consecutive night of American strikes and further Iranian retaliation raised concerns about a broader regional war.
These developments could support Canadian energy producers, while also increasing inflation concerns and pressure on transportation and other fuel-sensitive sectors.