Toronto Stocks Flat, Air Canada Down on Strike Impact and Withdrawn Guidance

Toronto stocks were virtually flat to start the week, with most sectors trending higher in the session. Air Canada shares fell 1% to C$19.53 after withdrawing financial targets due to a strike by flight attendants. Canopy Growth shares rose 5.6% to C$1.90 after appointing new officers for its US subsidiary, and High Tide shares gained 12% to C$4.12 after expecting better Q3 performance.

Toronto stocks were virtually flat to start the week, with mixed performance across sectors. The broader market showed resilience despite ongoing economic volatility. Key developments included Air Canada's withdrawal of financial targets due to a strike by flight attendants, while Canopy Growth and High Tide shares rose on positive news.

Air Canada shares fell 1% to C$19.53 after the Montreal-based carrier withdrew its financial targets for the year. The decision was made in response to a strike by approximately 10,000 flight attendants, represented by the Canadian Union of Public Employees. The strike entered its third day, forcing the airline to keep most flights grounded. The union argued that management had not put forward serious offers on wages and working conditions, while Air Canada maintained that it was counting on Ottawa to resolve the dispute [3].

Canopy Growth shares rose 5.6% to C$1.90 after the company appointed new officers for its US subsidiary. The appointment comes amid the company's ongoing efforts to expand its operations and capitalize on the growing cannabis market in the United States. The move was seen as a positive step towards strengthening Canopy Growth's position in the competitive US market.

High Tide shares gained 12% to C$4.12 after the company reported expectations for better Q3 performance. The company cited improved operational efficiency and increased market demand as the driving factors behind the positive outlook. The rise in High Tide's shares reflects investor confidence in the company's ability to navigate market challenges and capitalize on growth opportunities.

The broader market's performance was influenced by economic data and geopolitical events. The Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) have been closely monitoring economic indicators to gauge market sentiment [1]. Investors should remain vigilant as economic volatility continues to impact various sectors. The TSX Group Equity Financing Statistics for July 2025 highlighted a 10% increase in dividends for TMX Group Limited, indicating resilience in the market [2].

References:
[1] https://www.tsx.com/
[2] https://www.nasdaq.com/articles/toronto-dominion-bank-td-beats-stock-market-upswing-what-investors-need-know-0
[3] https://www.wsj.com/world/americas/air-canada-halts-guidance-as-flight-attendant-strike-continues-8241117c