CANADA STOCKS-TSX snaps 4-day rally as technology shares tumble - Reuters.com - 2 minutes read




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* TSX ends down 268.35 points, or 1.3%, at 21,094.01
* Technology falls 4.7%, with Shopify down 8.4%
* Suncor falls 3.5% after earnings miss
* Industrials decline 2.1%
TORONTO, Feb 3 (Reuters) - Canada’s main stock index fell on Thursday, pulling back from a two-week high the day before, as a slump in U.S. technology shares spilled over to the Toronto market.
The Toronto Stock Exchange’s SP/TSX composite index ended down 268.35 points, or 1.3%, at 21,094.01, after four straight days of gains.
On Wednesday, the TSX notched its highest closing level since Jan. 17.
Wall Street also snapped a winning streak after Facebook-owner Meta Platforms’ dour forecast sent its stock plummeting and halted a nascent recovery built on upbeat earnings from other big tech.
The TSX’s technology sector fell 4.7%, including a 8.4% decline for Shopify Inc, the stock with the third largest market capitalization on the Toronto market.
Industrials lost 2.1%, while the energy sector ended 0.8% lower even as the benchmark U.S. crude oil price broke above $90 a barrel for the first time since 2014.
Energy was pressured by a 3.5% decline in the shares of Suncor Energy Inc after the company missed earnings expectations.
The materials group, which includes precious and base metals miners and fertilizer companies, ended down 1.1%. (Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru Editing by Alistair Bell)

Source: Reuters

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