The Toronto stock market approached midday higher Thursday, though initial gains subsided, as tensions over Egypt's political strife remained in the picture.
The S&P/TSX Composite Index remained positive 17.36 points – off its highs of the morning -- to greet noon at 12,163.04
The Canadian dollar slipped 0.07 cents to 95.12 cents U.S.
Volumes were expected to be much lighter than normal with the U.S. market closed for the July 4 holiday.
On the TSX, energy stocks fell with Encana Corp. dropping four cents to $17.89.
The gold sector was lower, though Barrick Gold gained 19 cents to $15.70.
Real estate issues went south with Canadian Real Estate Investment Trust falling 2% to $42.70.
Metals and mining stocks led gainers with Sherritt International gaining 2% to $4.01. Telecoms gathered steam, off the back of TELUS Inc., gaining 0.9% to $31.97.
Bank of Japan Governor Haruhiko Kuroda claimed some success for the central bank's aggressive monetary stimulus, saying that the economy is on track to a steady recovery with signs inflation expectations are picking up.
Egypt will swear in an interim leader after a tumultuous 24 hours during which the army ousted President Mohamed Mursi and vast crowds celebrated in Cairo and Alexandria amid clashes that cost 14 lives.
The European Central Bank will leave interest rates unchanged and try to reassure investors rattled by new turmoil in Europe and the U.S. Federal Reserve's plans to begin winding up its stimulus.
ON BAYSTREET
The TSX Venture Exchange sank 0.32 points to 880.86
Nine of the 14 Toronto subgroups were higher, with metals and mining issues up 0.9%, telecoms ahead 0.5% and consumer discretionary stocks up 0.4%.
The five laggards were weighed by real-estate, down 0.5%, gold sliding 0.2%, and industrials, off 0.1%.
ON WALLSTREET
Markets are closed Thursday in observance of Independence Day.
