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At noon: Canadian stocks higher Add to ...

Canadian stocks held onto modest gains in midday trading on Monday, with U.S. markets closed for Memorial Day.

At noon, the S&P/TSX composite index was up 30 points or 0.2 per cent, to 13,828.

Information technology stock were up 0.5 per cent, after a Reuters article quoted some observers arguing that Research In Motion Ltd. needs a leadership change. Materials also rose 0.5 per cent, while energy stocks rose 0.3 per cent.

Financials, which fell last week following of disappointing earnings from the big banks, rose less than 0.1 per cent. Utilities fell 1.2 per cent after Fortis Inc. agreed to pay $470-million (U.S.) for a U.S.-based utility.

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