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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.

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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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