business
TSX Falls to Near Four-Week Low as Shopify and Thomson Reuters Decline
TSX slips to nearly four-week low as Shopify and Thomson Reuters shares drop after quarterly results.
Key points
- Shopify shares fell 8% after third-quarter revenue slightly missed estimates.
- Thomson Reuters shares fell 9% despite higher third-quarter revenue.
- 5N Plus shares jumped 24.7% after its quarterly revenue beat estimates.
Why it matters. Investors are waiting for concrete trade-deal evidence, which could take weeks or even months, so the Canadian market may stay volatile in the meantime.
Canada's main stock index closed down 0.8% at 35,532.28 on Tuesday, its lowest close since October 8, as investors awaited details of a US-Canada trade deal. Shopify shares fell 8% after slightly missing revenue estimates, while Thomson Reuters dropped 9% on AI spending worries, some investors said. Treegrove's Michael Sprung said the market would stay volatile until concrete trade deal details emerge.
Latest updates
TSX Falls to Near Four-Week Low as Shopify and Thomson Reuters Decline
Canada's S&P/TSX Composite Index fell to a nearly four-week low on Tuesday. It ended down 268.81 points, or 0.8%, at 35,532.28, its lowest close since October 8. Shares of Shopify and Thomson Reuters lost ground after both companies reported quarterly results. Investors were also awaiting detailed evidence that a trade deal between the United States and Canada was at hand. US stocks ended higher, with the S&P 500 rebounding in AI heavyweights ahead of US midterm election results.