Five TSX Stocks Finished Well Ahead of the Composite in a Week of Results and a Rate Hike

TORONTO, Nov. 02, 2026 /CNW/ -- Canada News Group News Commentary - Toronto's benchmark index gave back ground in the last week of October, but several companies that put out results or other news of their own finished the week with sizable gains. The S&P/TSX Composite Index closed at 35,620.03 on Friday, October 30, down 168.15 points, or 0.47%, from its October 23 close of 35,788.18, according to TMX Money data. To find the stronger performers, Canada News Group compared October 23 and October 30 closing prices published by Stock Analysis for Toronto Stock Exchange companies with a market capitalization of at least C$1 billion, setting aside Canadian Depositary Receipts of foreign companies. The five companies below, with weekly gains ranging from 4.60% to 27.02%, each issued news during the week; they are drawn from that screen and are not presented as a complete ranking of the exchange's top performers. Active Companies from around the markets with current developments this week include: Bausch Health Companies Inc. (NYSE: BHC) (TSX: BHC), Black Diamond Group Limited (TSX: BDI), Methanex Corporation (TSX: MX) (NASDAQ: MEOH), Precision Drilling Corporation (TSX: PD) (NYSE: PDS), TMX Group Limited (TSX: X).

The central event of the week came on Wednesday, October 28, when the Bank of Canada raised its target for the overnight rate by 25 basis points to 2.5%, putting the Bank Rate at 2.75% and the deposit rate at 2.45%. It was the bank's first rate change since October 29, 2025, when it cut by the same amount. The bank said CPI inflation has been around 3% since April and is expected to rise to about 3½% by the end of the year, and it described the hike as a step to limit the risk of continuing high energy prices feeding broadly into what Canadians pay for other goods and services. Governing Council said there could be a need to raise the rate further but, given uncertainties, agreed to proceed carefully. The next scheduled rate announcement is December 9.

The index moved higher in each of the first three sessions of the week, closing at 36,265.09 on October 28, the day of the decision. It slipped 16.06 points on Thursday and then fell 629.00 points, or 1.735%, on Friday. Even after that drop, TMX Money data show the S&P/TSX Composite up 12.321% for the year to date.

The week of November 2 brings a full Canadian calendar. Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers are scheduled to appear before the House of Commons Standing Committee on Finance on November 3 and the Standing Senate Committee on Banking, Commerce and the Economy on November 5. Statistics Canada plans to publish September merchandise trade figures on November 4 and the Labour Force Survey for October on Friday, November 6, with releases issued at 8:30 a.m. Eastern. On the earnings side, Shopify plans to announce third-quarter results before markets open on November 3, and Manulife will release its third-quarter results after markets close on November 4.

When one quarterly report can move a stock by double digits in a week the broader index finished lower, knowing what the chart was showing beforehand matters. Stock Preachers covers that in its free Knowledge is Power guide at canadanewsgroup.com/sp, which shows how to weigh a headline against what the chart is doing.

In other industry developments and happenings in the market this week include:

Bausch Health Companies Inc. (NYSE: BHC) (TSX: BHC)

Bausch Health's Toronto-listed shares closed the week at C$11.47, up 27.02% from C$9.03, including a 28.34% gain on October 29, the day after the company reported its third-quarter results. Consolidated revenues were $2.94 billion, up 10% on a reported basis and 8% on an organic basis, and GAAP earnings per diluted share attributable to Bausch Health were $1.15, compared with $0.48 a year earlier, while adjusted earnings per diluted share rose to $1.77 from $1.16. Excluding Bausch + Lomb, Bausch Health recorded its fourteenth consecutive quarter of year-over-year revenue and adjusted EBITDA growth and raised its full-year 2026 revenue, adjusted EBITDA and adjusted cash flows from operations guidance for that business, while the company updated its consolidated revenue and adjusted EBITDA guidance. Salix segment revenues rose 16% to $831 million. Its board also authorized a $50 million share repurchase program, primarily to offset dilution from management equity awards expected to vest in 2027.

"Our performance reflects disciplined execution across the portfolio, with healthy cash generation supporting more than $500 million of net debt reduction during the quarter," said Thomas J. Appio, Chief Executive Officer, Bausch Health.

Black Diamond Group Limited (TSX: BDI)

Black Diamond Group shares rose 13.13% over the week to C$21.11, including a 7.38% gain on Friday, October 30. On October 29, the space rental and workforce accommodation provider reported third-quarter total revenue of $159.9 million, up 52% from a year earlier, and adjusted EBITDA of $42.3 million, up 33%, with figures in Canadian dollars. Workforce Solutions revenue rose 127% to $97.9 million, an increase the company said was driven by the contribution of Royal Camp Services Ltd., and the segment's formal bids outstanding in Canada alone top $2.3 billion, which the company said represents more than double its current fleet capacity. LodgeLink generated record Total Trade Value of $51.5 million. Black Diamond also raised its quarterly dividend by 22% to $0.055 per share, payable on or about January 15, 2027, and on October 30 announced the appointment of Michael Chan to its board.

"His experience and perspective will complement the strengths of our Board as we execute against our long-range strategy, serve our customers and deliver compounding shareholder value," said Trevor Haynes, Chairman and CEO of Black Diamond Group.

Methanex Corporation (TSX: MX) (NASDAQ: MEOH)

Methanex shares finished the week at C$99.85, up 12.81% from C$88.51, with a 13.76% gain on October 30 alone. In third-quarter results released October 29 and stated in U.S. dollars, the methanol producer reported net income attributable to Methanex shareholders of $265 million, or $3.42 per diluted share, compared with $198 million, or $2.45 per diluted share, in the second quarter, and Adjusted EBITDA of $543 million. It produced 2,143,000 tonnes of methanol, with record North American production. The average realized price was $510 per tonne, compared with $529 per tonne in the second quarter, and based on its October and November posted prices and current spot pricing, the company expects an average realized price of approximately $525 to $550 per tonne for those two months. Methanex generated $646 million of cash flows from operating activities, ended the quarter with $912 million in cash and, subsequent to the quarter, announced approval of a 5% normal course issuer bid to repurchase up to 3,868,213 common shares through November 3, 2027.

"Our enhanced asset base continued to run well, particularly in North America, helping to drive another quarter of strong Adjusted EBITDA and cash flow," said Rich Sumner, President & CEO of Methanex.

Precision Drilling Corporation (TSX: PD) (NYSE: PDS)

Precision Drilling shares rose 12.48% over the week to C$148.12. On October 27, the drilling contractor reported third-quarter results in Canadian dollars, with revenue of $532 million, up 15% from $462 million a year earlier, Adjusted EBITDA of $125 million, up 6%, and net earnings attributable to shareholders of $21 million, compared with a net loss of $7 million in the third quarter of 2025. Canada averaged 73 active rigs, up 16%, and the U.S. averaged 43 active rigs, up 19%, growth the company said outpaced the U.S. industry's 10% increase in activity. Cash provided by operations of $71 million in the quarter allowed for the repurchase of $31 million of common shares, and the company revised its 2026 capital budget from $265 million to a range of $275 million to $285 million to accommodate long-lead deliveries and a pending upgrade opportunity that would have multiple rigs contracted through 2029 for a large Canadian producer.

"We are delivering on what we set out to accomplish in 2026: growing revenue and deepening customer relationships, generating free cash flow, and returning capital to shareholders," said Carey Ford, Precision's President and CEO.

TMX Group Limited (TSX: X)

Shares of TMX Group, whose operations include Toronto Stock Exchange, TSX Venture Exchange and Montréal Exchange, rose 4.60% over the week to C$60.07, including a 5.28% gain on October 30. In third-quarter results released October 29, the company reported revenue of $491.1 million, up 17% from $418.6 million a year earlier, and adjusted diluted earnings per share of $0.63, up 21% from $0.52. Diluted earnings per share were $0.38, down 12% from $0.43, including a 10 cent per share decrease related to net foreign exchange losses. Revenue excluding recent acquisitions grew 11%, and during the quarter TMX completed the acquisitions of Cboe Australia, renamed TMX Australia Exchange, and RAFI Indices for an aggregate of US$635.2 million ($883.1 million) in cash.

"As a result of the steps forward we have taken this year, TMX is better positioned to compete: more resilient, more responsive and better able to solve complex challenges for our growing client base around the world," said John McKenzie, Chief Executive Officer of TMX Group.

Each of the five companies above put fresh results or corporate news in front of investors last week, and the coming days bring more quarterly reports, October jobs data and two committee appearances by the Bank of Canada's governor and senior deputy governor. Canadian investors who want a framework for judging TSX moves around earnings and jobs data before they happen can pick up the free Stock Preachers guide, along with The Roadmap market reports, at canadanewsgroup.com/sp.

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This article is independent news commentary. Canada News Group is wholly owned and operated by Market Equities Limited ("MEL"), a company incorporated under the laws of Ireland. MEL has not been paid by any company mentioned in this article. MEL and its owners, operators, directors, and affiliates do not currently own any shares of the companies mentioned in this article, but reserve the right to, and will, buy and sell shares of those companies at any time without further notice. Weekly price changes compare Toronto Stock Exchange closing prices in Canadian dollars on October 23 and October 30, 2026, as published by Stock Analysis (stockanalysis.com), for TSX-listed companies with a market capitalization of at least C$1 billion on its Toronto Stock Exchange list, excluding Canadian Depositary Receipts; a small number of listings could not be checked. S&P/TSX Composite Index levels for October 23 through October 30, 2026 are from TMX Money price history data. Company financial figures are as reported by each company in its stated currency. Policy and calendar references are drawn from the Bank of Canada's October 28, 2026 rate announcement and upcoming events page, Statistics Canada's release schedule for November 2 to 13, 2026, and announcements by Shopify (October 6, 2026) and Manulife (October 22, 2026), and scheduled events may change. Information is drawn from company news releases and filings, government and industry data, published reporting and third-party data believed to be reliable, but its accuracy is not guaranteed. Investing in securities carries risk, including the loss of some or all of your investment. This document is governed by the laws of Ireland.

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