Royal Bank replaces Shopify as most valuable company as TSX hits intraday high

Photo: The Canadian Press

A street sign along Bay Street in Toronto's financial district is shown on Tuesday, January 12, 2021. THE CANADIAN PRESS/Nathan Denette

The Royal Bank of Canada replaced Shopify Inc. as the country's most valuable company as the technology sector faded on the Toronto Stock Exchange.

The S&P/TSX composite index closed up 76.82 points to 18,457.78.

In New York, the Dow Jones industrial average was up 306.14 points at 31,802.44. The S&P 500 index was down 20.59 points at 3,821.35, while the Nasdaq composite was down 310.99 points at 12,609.16.

The Canadian dollar traded for 78.99 cents US compared with 78.94 cents US on Friday.

The April crude contract was down US$1.04 at US$65.05 per barrel and the April natural gas contract was down 3.7 cents at US$2.66 per mmBTU.

The April gold contract was down $20.50 at US$1,678.00 an ounce and the May copper contract was up 1.75 cents at US$4.09 a pound.