The S&P/TSX Composite Index climbed more than 1.5% on Wednesday to trade above 36,000, marking a new record high as investors digested another wave of corporate earnings.
Shopify jumped roughly 20% after reporting second-quarter revenue of $3.58 billion, a 34% increase from a year earlier, beating analyst expectations and issuing guidance for third-quarter growth that exceeded Wall Street forecasts.
Thomson Reuters added nearly 1% after posting a 9% year-over-year rise in second-quarter revenue, topping estimates and lifting its full-year organic revenue growth outlook to around 8%.
Manulife Financial (down 1%) and Nutrien (off 0.2%) are scheduled to release their earnings later today.
Lower oil prices continued to pressure energy stocks, with Suncor slipping 1% even after reporting adjusted profit above expectations. In contrast, higher gold prices supported the mining sector: Agnico Eagle advanced nearly 7%, Barrick gained about 5%, and WPM rose roughly 6%.
