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CANADA STOCKS-TSX snaps winning streak as tech and energy shares fall
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CANADA STOCKS-TSX snaps winning streak as tech and energy shares fall
Apr 9, 2026 1:54 PM

* TSX ends down 0.4% at 33,477.71

* Tech falls 2.1%, with Shopify ( SHOP ) 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

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 fell 2.1%, with shares of

e-commerce company Shopify Inc ( SHOP ) 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 ) was a bright spot. Its shares added

7.4% after the software company forecast first-quarter revenue

above estimates.

Energy was down 1.6% even as the price of oil

settled 3.7% higher at $97.87 a barrel. Still, energy has

advanced nearly 33% since the start of the year.

Consumer staples lost 2.3% and the materials

group, which includes metal mining shares, ended 0.6%

lower.

Three of the 10 major sectors ended higher, including heavily

weighted financials, which added 0.8%.

Royal Bank of Canada ( RY ) 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.

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