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TSX ends down 0.6% at 20,238.19
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Financials fell 1.3%
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Energy was down nearly 1%
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Shopify jumps 23.2%
(Adds details throughout, updates prices to close)
By Shristi Achar A and Fergal Smith
May 4 (Reuters) - Canada's main stock index fell on
Thursday to its lowest closing level in four weeks as
broad-based declines included losses for the financial and
energy sectors, offsetting a jump in the shares of e-commerce
company Shopify Inc .
The Toronto Stock Exchange's S&P/TSX composite index ended down 116.49 points, or 0.6%, at 20,238.19, its
lowest closing level since April 6, preliminary data showed.
Heavily-weighted financials fell 1.3% as pressure mounted on
U.S. regional bank stocks and despite a gain of 0.3% for
Toronto-Dominion Bank Group after the lender called off
its $13.4 billion acquisition of U.S.-based First Horizon Corp .
Energy also lost ground, falling nearly 1%, as oil settled 0.1% lower at $68.56 a barrel following another volatile
session.
Technology was the lone sector to rise, gaining 3.4%.
It was helped by a 23.2% jump in the shares of Shopify Inc after the company announced plans to lay off 20% of
its workforce and sell its logistics arm, while also posting a
surprise first-quarter profit.
(Reporting Fergal Smith in Toronto and by Shristi Achar A in
Bengaluru; Editing by Shilpi Majumdar and Alistair Bell)
