Toronto Stocks Reach New Heights, Shopify Surges on Q2 Beat

Toronto stocks rose to all-time highs, with the S&P/TSX Composite Index up 1.2% to 27,907.22 and the S&P/TSX 60 up 1.5% to 1,663.42. Shopify shares surged 19% to C$208.63 after reporting stronger-than-expected earnings, driven by a surge in European merchant activity in Q2. Thomson Reuters shares fell after reporting lower global print revenue, while Premium Brands Holdings shares advanced 7% due to strong Q2 revenue growth. Finning International shares fell over 10% after posting weaker-than-expected Q2 results.

Toronto's stock market reached new highs on July 2, 2025, as the S&P/TSX Composite Index climbed 1.2% to 27,907.22 points, and the S&P/TSX 60 index advanced 1.5% to 1,663.42 points. The surge was driven by strong corporate earnings, particularly in the technology and e-commerce sectors.

Shopify Inc. (NASDAQ, TSX: SHOP) was among the standout performers, with its shares surging 19% to C$208.63. The e-commerce giant reported stronger-than-expected earnings for the second quarter, driven by a surge in European merchant activity. The company's revenue grew by 31%, with free cash flow margin reaching 16% [3].

Meanwhile, Thomson Reuters (TSX: TRU) shares fell after reporting lower global print revenue. The company's stock declined despite positive market sentiment. Premium Brands Holdings (TSX: PRB) shares advanced 7% due to strong Q2 revenue growth, while Finning International (TSX: FIN) shares fell over 10% after posting weaker-than-expected Q2 results.

The market's performance was also influenced by global investor sentiment, which remains optimistic despite recent market weakness. Analysts attribute the Toronto stock market's resilience to strong corporate earnings and positive sector trends.

References:
[1] https://www.reuters.com/markets/europe/tsx-hits-record-high-corporate-earnings-2025-08-06/
[2] https://www.benzinga.com/trading-ideas/movers/25/08/46909708/palantir-stock-just-hit-all-time-highs-whats-behind-the-momentum
[3] https://finance.yahoo.com/news/shopify-delivers-another-exceptional-quarter-110000877.html