(RTTNews) - Bay Street stocks were hovering near the unchanged line in mid-morning deals Friday after recording their biggest gain in a week last session. Canada said its industrial capacity utilization were up more-than-expedited in the first quarter.
Meanwhile, cues from south of the border were mixed. While retail sales dropped the most in eight months, consumer sentiment index jumped to its highest level since January 2008.
The S&P/TSX Composite Index was up 37.16 points 0.32% to 11,673.01, after moving between 11,586 and 11,693. Yesterday, the main index surged 185.21 points or 1.62% to 11,635.85, supported by firm energyprices and upbeat exports data from China.
The price of oil eased from its 3-week high after China reported lower-than-expected growth in industrial production in May. Crude for July edged down $0.66 to $74.82 a barrel.
China today said its industrial production expanded 16.5% in May from a year ago, compared to a 17.8% growth recorded in April. Economists were expecting China to record 17.0% growth in May.
Among energy stocks, Suncor Energy (SU.TO) gained 1.47%. Cenovus Energy (CVE.TO) and Baytex Energy Trust (BTE_UN.TO) added over 1% each.
Among base metals stocks, Teck Resources (TCK_B.TO) and Major Drilling (MDI.TO) surged over 2% each.
Mineral resource company New Island Resources Inc. (NIS.V) soared over 42%. Anaconda Mining (ANX.TO) said it formally begun a share exchange takeover offer for New Island.
The price of gold edged up $2.90 to $1,225.10 an ounce.
Iamgold (IMG.TO) moved up 2.75% and Eldorado Gold (ELD.TO) was up 2.28%.
Gold producer Barrick Gold (ABX.TO) edged up 0.79%. The company said that Patrick Garver, EVP and General Counsel, will be taking early retirement from the company effective July 31. Patrick has been with Barrick since 1993.
Gold mining company Centerra Gold (CG.TO) eased 0.55%. The company said its would spend as much as C$3 billion in buying assets to boost production.
In the IT space, blackberry maker Research In Motion (RIM.TO) rose 1.52%. RIM today said it has settled patent fight with Motorola. Open Text (OTC.TO) was up 1.36%.
Semiconductor company MOSAID Technologies (MSD.TO) rallied 6.53% after reporting higher fourth quarter net income of C$0.69 per share, compared to C$0.55 per share in the year-ago quarter.
Pharmaceutical industry services provider Patheon Inc. (PTI.TO) added 1.99% after it swung to profit in second-quarter, reporting net income of $0.084 per share, compared with a loss of $0.035 per share in the year ago period. Analysts were expecting the company to report net income of $0.03 per share.
