Despite weakening commodity prices across the board, the Canadian stock market continued to rise for a second consecutive session on Tuesday as solid tech earnings kept the momentum going. After crossing the 25,000 level for the first time ever in intraday trading, the S&P/TSX Composite Index gave up some of its gains later during the session, but it still settled with a 134-point, or 0.5%, increase at 24,923.
On the one hand, weaker metals prices continued to keep shares of mining companies under pressure. Shopify’s (TSX:SHOP) upbeat results and solid outlook triggered buying in tech stocks, contributing to the TSX’s gains.
Top TSX Composite movers and active stocks
Shopify stock popped by 21.4% to $152.26 per share, making it the top-performing TSX stock for the day. This rally in SHOP stock came after the Ottawa-headquartered e-commerce platform giant announced a solid 26.1% year-over-year jump in its…
