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S&P/TSX Composite Index Jumps 518 Points Late Morning to Another Record High

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The S&P/TSX Composite Index, which closed at a record high Tuesday, has climbed another 518 points to hit another record late Wednesday morning, with most sectors higher.

The best performers are information technology (+3.9%) and base metals (+3%).

Shopify (SHOP.TO) jumped 17% in late-morning trade, to hit a six-month high of C$202.80, after it reported a second-quarter revenue beat early Wednesday.

The energy sector is down 2.3%, tracking price declines in both West Texas Intermediate and brent crude as hopes inch higher that the US and Iran may be closing in on an agreement involving the reopening of the Strait of Hormuz.

Industrials was the second largest decliner, which at last look was down 1.1%.

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