Shopify Inc. overtook the Royal Bank of Canada to become the country’s most valuable company after the company reported revenue growth and strong demand for its services, thanks in part to a boom in online shopping while Canadians practise physical distancing amid the coronavirus pandemic

The S&P/TSX composite index closed up 19.18 points at 14,830.74 as Shopify’s market capitalization increased to nearly $121.3 billion after it shares rose almost seven per cent.

In New York, the Dow Jones industrial average was down 218.45 points at 28,664.64. The S&P 500 index was down 20.02 points at 2,848.42, while the Nasdaq composite was up 45.27 points at 8,854.39.

The June gold contract was down US$22.10 at US$1,688.50 an ounce and the July copper contract was up 1.45 cents at nearly US$2.35 a pound.

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