Toronto stock index gains nearly 200 points as Shopify Inc. shares strengthen

Toronto stock index gains nearly 200 points as Shopify Inc. shares strengthen
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TORONTO — Canada’s main stock index gained nearly 200 points as Shopify Inc. shares buoyed the tech sector thanks to strong quarterly results.

The S&P/TSX composite index gained 173.34 points to 16,294.66 as Shopify shares closed up about seven per cent after reaching an intraday high of just over 12.5 per cent.

In New York, the Dow Jones industrial average advanced 160.29 points to 26,539.57. The S&P 500 index rose 40.00 points to 3,258.44, while the Nasdaq composite increased 140.85 points to 10,542.94.

The Canadian dollar traded for 74.85 cents US compared with 74.78 cents on Tuesday.

The September crude contract rose 23 cents to US$41.27 per barrel and the September natural gas contract advanced nearly seven cents to US$1.93 per mmBTU.

The August gold contract gained US$8.80 to US$1,953.40 an ounce and the September copper contract was relatively unchanged at nearly US$2.92 a pound.

This report by The Canadian Press was first published July 29, 2020.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

 

The Canadian Press


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