Canada Stocks: TSX snaps winning streak as tech and energy shares fall

Shopify

09/04/2026 21:42

TSX ends down 0.4% at 33,477.71

Tech falls 2.1%, with Shopify down 6.5%

BlackBerry jumps 7.4% after upbeat Q1 revenue forecast

Energy loses 1.6% even as oil settles higher

Updates at market close

By Fergal Smith

April 9 (Reuters) - Canada's main stock index gave back some of its recent gains on Thursday as investors assessed a fragile ceasefire in the Middle East and the potential for artificial intelligence to upend the business models of software companies.

The Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE ended down 142.86 points, or 0.4%, at 33,477.71, after six straight days of gains.

"When we look at the markets right now it's just all about the uncertainty around the war," said Philip Petursson, chief investment strategist at IG Wealth Management.

Israeli Prime Minister Benjamin Netanyahu said he is seeking direct talks with Beirut, a day after the worst bombardment of the war killed more than 300 people in Lebanon and placed the truce between the U.S. and Iran in jeopardy.

The technology sector .SPTTTK fell 2.1%, with shares of e-commerce company Shopify Inc SHOP.TO down 6.5%.

"On the tech side ... it's pressure coming from AI disruption. What it might mean for software and services companies and how much of a displacement is being priced into these stocks today," Petursson said.

"It's leaving in the path much better valuation for these stocks and in some cases very attractive entry points."

BlackBerry Ltd BB.TO was a bright spot. Its shares added 7.4% after the software company forecast first-quarter revenue above estimates.

Energy .SPTTEN was down 1.6% even as the price of oil CLc1 settled 3.7% higher at $97.87 a barrel. Still, energy has advanced nearly 33% since the start of the year.

Consumer staples .GSPTTCS lost 2.3% and the materials group .GSPTTMT, which includes metal mining shares, ended 0.6% lower.

Three of the 10 major sectors ended higher, including heavily weighted financials .SPTTFS, which added 0.8%.

Royal Bank of Canada RY.TO plans to deploy up to C$1 billion over the coming years to form a growth fund and make equity investments to support homegrown companies, CEO Dave McKay said. Shares of Canada's largest lender ended 0.7% higher.

 (Reporting by Fergal Smith and Utkarsh Tushar Hathi; Editing by Jonathan Ananda and Tasim Zahid)

 ((fergal.smith@thomsonreuters.com; +1 647 480 7446))