Canada Stocks: Toronto stocks little changed as investors weigh tech strength against energy decline

Descartes Systems group

27/07/2026 16:02

Shopify top gainer
Energy shares among biggest decliners
Altus Group names new CFO
By Sudeshna Ghoshal
July 27 (Reuters) - Canada's main stock index was largely unchanged on Monday, as investors assessed strength in tech against a decline in energy stocks after oil prices retreated following a pause in strikes between the U.S. and Iran over the weekend.
The S&P/TSX Composite Index .GSPTSE was flat at 35,475.08 points by 10:40 a.m. ET.
Technology shares .SPTTTK were among the biggest gainers, adding 2.8%
Shopify SHOP.TO jumped 7.8%, while Open Text Corp OTEX.TO and Descartes SystemsDSG.TO added 5.5% and 4.7% respecitvely.
Consumer discretionary .GSPTTCD and real estate shares .GSPTTRE also contributed to gains, adding 0.9% and 0.7%, respectively.
But energy shares .SPTTEN took a hit as oil prices tumbled after Washington and Tehran paused fighting over the weekend.
Investors were also awaiting second-quarter results from technology firm Celestica CLS.TO and energy infrastructure company Gibson Energy GEI.TO, among other companies, due after the closing bell.
"Earnings season will continue to be constructive. And I think the focus can just be more on corporate earnings than geopolitical tensions," said Michael Dehal, a senior portfolio manager at Dehal Investment Partners at Raymond James.
Real estate firm Altus Group AIF.TO appointed Katie Royce as the new CFO, effective August 3. Shares of the company gained more than 3%.
Separately, markets are contending with U.S. President Donald Trump's vowto implement tariffs on Canada, in retaliation for smoke from wildfires that has drifted into the U.S.
"If tariffs go wider into other sectors and goods and services, that could be a bit more detrimental to the Canadian economy, given how much we export to the U.S.," Dehal said. 
Markets are also awaiting the interest rate decision from the Federal Reserve. Investors expect rates to be left unchanged this week, but are pricing in at least 25 basis points of rate hikes later this year, LSEG-compiled data showed. 

 (Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Sahal Muhammed)
 ((Sudeshna.Ghoshal@thomsonreuters.com;))