The Toronto stock market drifted lower midday Tuesday, buoyed by information technology stocks.
The S&P/TSX composite index slipped into the red 7.02 points to approach noon at 12,363.17
The Canadian dollar moved down 0.08 cents to 101.70 cents U.S.
Information technology stocks enjoyed the biggest gains of the morning, with Research In Motion proving as good as its name, moving 1.2% higher to $7.98, while rival Wi-Lan climbed 2.2% to $5.63.
Energy and industrial stocks were also winners on Tuesday morning, with Birchcliff Energy ballooning more than 10% to $7.70, while Trican Well Service vaulted 3.6% to $13.35
Westport Innovations led industrial issues, gaining 2.9% to $28.50, while Transcontinental picked up 2.3% to $8.33.
ON BAYSTREET
The TSX Venture Exchange dipped 1.03 points to 1,337.87
Nine of the 14 Toronto subgroups were higher by midday, led by information technology stocks, up 1.2%, while energy and industrial plays each gained 0.6%.
The five laggards were weighed by materials, down 0.7%, and gold, down 0.5%, and health-care, 0.2% less robust.
ON WALLSTREET
American stocks pared back early gains to turn mixed noon time trading Tuesday as a lack of conviction kept investors sidelined.
The Dow Jones Industrial average fell 77.64 points to break for lunch at 13,437.50
The S&P 500 docked 3.83 points to 1,441.46, while the tech-rich Nasdaq slumped 2.83 points to 3,110.70
In the United States, automakers released their sales figures. The first was Chrysler, which reported a 12% year-over-year increase in U.S. sales last month. It was also the best September sales since 2007. General Motors reported only a 1.5% increase from year-earlier, while Ford sales slipped 0.1%
In company news, shares of MetroPCS's surged more than 19% after Bloomberg reported that a deal with Deutsche Telekom to bolster its T-Mobile USA unit was imminent.
Shares of Yahoo rose roughly 1%, a day after CEO Marissa Mayer gave birth to a baby boy. She previously said she planned to return to work within a few weeks of the birth.
General Growth Properties' stock edged lower after influential hedge fund manager Bill Ackman turned up the heat on the mall operator to sell itself to Simon Property Group
The price on the benchmark 10-year U.S. Treasury gained back lost ground, lowering yields to 1.61% from Monday’s 1.62%. Treasury prices and yields move in opposite directions.
Oil prices shaved off 12 cents to $92.36 U.S. a barrel.
Gold prices docked $2.90 to $1,782.60 U.S. an ounce.
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