Canadian TSX 30 ranking shows gold producers and AI leaders driving long-term market returns
A sharp revision to US job growth rattled markets on Tuesday, with the Bureau of Labor Statistics lowering payroll gains for the 12 months through March by 911,000 — the steepest adjustment since 2002, reported CNBC.
JPMorgan Chase chief executive Jamie Dimon said, “I think the economy is weakening. Whether it’s on the way to recession or just weakening, I don’t know.”
Despite the downgrade, major US indexes closed at record highs.
According to CNBC, the S&P 500 rose 0.27 percent to 6,512.61, the Nasdaq Composite gained 0.37 percent to 21,879.49, and the Dow Jones Industrial Average added 196.39 points, or 0.43 percent, to 45,711.34.
Investors expect the data to strengthen the case for Federal Reserve rate cuts this year, though Chris Zaccarelli of Northlight Asset Management cautioned that a weak inflation print could “throw some cold water on the recent rally.”
He added that if the consumer price index later this week shows a worsening trend, markets may shift focus toward stagflation.
While Wall Street digested signals of a slowing US labour market, Canadian investors turned to the Toronto Stock Exchange’s TSX 30 list.
The 2025 ranking highlighted mining, AI, and infrastructure as key themes, reported BNN Bloomberg.
Celestica Inc. led with a 1,599 percent dividend-adjusted return over three years, while gold producers dominated the list with 17 mining firms included.
Lundin Gold Inc. ranked second with a 775 percent return, Avino Silver & Gold Mines Ltd. placed fifth at 610 percent, and New Gold Inc. took eleventh with 394 percent.
The gains came alongside bullion’s climb above US$3,600 an ounce.
Lundin Gold chief executive Ron Hochstein said the rise was driven by central banks buying gold over US Treasuries, though he emphasized that operational discipline and cost control remain critical.
Toronto Stock Exchange chief executive Loui Anastasopoulos said investors favoured firms providing stability.
He noted that industrial companies such as Bird Construction, Bombardier, and Hammond Power Solutions benefitted from energy transition, transportation modernization, and supply chain reshoring.
