Financials and energy stocks weighed on North American indexes on Friday in midday trading, paring U.S. gains and sending Canada’s S&P/TSX composite index into negative territory as investors awaited the results of a meeting among finance ministers discussing the European debt crisis.
At noon, the Dow Jones industrial average was up 31 points, or 0.3 per cent, to 11,464. The broader S&P 500 was up 2 points, or 0.2 per cent, to 1211.
Financials were the worst performers, falling 0.8 per cent and energy stocks fell 0.6 per cent as the price of crude oil hovered below $90 (U.S.) a barrel.
However, utilities rose 1.2 per cent, consumer discretionary stocks rose 0.8 per cent and information technology stocks rose 0.6 per cent.
In Canada, the S&P/TSX composite index was down 45 points, or 0.4 per cent, to 12,380.
Research In Motion Ltd.’s sharp decline weighed on the information technology sector, which fell 10.5 per cent. Energy stocks fell 0.7 per cent and financials fell 0.3 per cent.