S&P/TSX composite down in late morning trading even as Shopify shares rise

Canada’s main stock index edged lower in late-morning trading as losses led by the financial and industrial sectors outweighed strength in shares of Shopify Inc. after the e-commerce company announced it was cutting staff and selling its logistics business.

The S&P/TSX composite index was down 2.41 points at 20,352.27.

In New York, the Dow Jones industrial average was down 306.70 points at 33,107.54. The S&P 500 index was down 25.53 points at 4,065.22, while the Nasdaq composite was down 41.05 points at 11,984.28.

The Canadian dollar traded for 73.63 cents US compared with 73.44 cents US on Wednesday.

The June crude contract was down 23 cents at US$68.37 per barrel and the June natural gas contract was down seven cents at US$2.10 per mmBTU.

The June gold contract was up US$24.50 at US$2,061.50 an ounce and the July copper contract was up less than a penny at US$3.85 a pound.

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