Tech Stocks Are Killing It in Canada
- S&P/TSX tech index sports biggest weighting in a decade
- Software consolidator Constellation crosses C$1,000/share mark
This article is for subscribers only.
Canadian technology stocks are trading near a decade-high as they ride booming U.S. demand for everything from e-commerce to office software and stay far from the global trade fray.
The S&P/TSX Composite’s technology index has gained about 23 percent this year, trouncing the 6.1 percent rise of its nearest competitor, industrials. Tech now sports a 4 percent weighting in the benchmark equity index, the highest since 4.2 percent in 2009 when BlackBerry Ltd. ruled the smartphone market.