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The screens at the TMX Broadcast Centre in Toronto are pictured on on Wednesday, July 11, 2012. (Matthew Sherwood For The Globe and Mail)
The screens at the TMX Broadcast Centre in Toronto are pictured on on Wednesday, July 11, 2012. (Matthew Sherwood For The Globe and Mail)

At the open: TSX inches up as commodities firm Add to ...

The S&P/TSX index inched up at the open, with Wall Street’s storm-related closure keeping activity extremely thin.

At 1024 a.m. (ET), the index was up 6 points, or 0.05 per cent, at 12,319, with only 10.7 million shares traded. It was a very mixed market, with decliners outnumbering advancers 121 to 104 within the index; the rest were unchanged.

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Commodities were mildly higher, lending support to the TSX. Oil was up 33 cents at $85.87 (U.S.) and gold was up $3.80 at $1,712.50.

It’s still not known when Wall Street trading will resume.

Here’s the rundown of today’s corporate and economic news so far this morning:

Statistics Canada said the raw materials price index rose 1.3 per cent in September from August, higher than the 1.1 per cent gain that was forecast.

Statistics Canada said industrial prices rose 0.5 per cent in September from August, higher than the expected 0.1 per cent.

The S&P/Case-Shiller index of property values in 20 U.S. cities rose 2 per cent from August 2011, the biggest year-to-year gain since July 2010, after rising 1.2 percent in the year to July. That was close to expectations.

Apple Inc. chief executive officer Tim Cook late Monday replaced the heads of its software and retail units in the company’s most sweeping executive shakeup in a decade.

TransCanada Corp. said its comparable earnings dropped to $349-million, or 50 cents per share, from $416 million, or 59 cents per share, a year ago. That missed analyst estimates by two cents per share.

Talisman Energy Inc. reported a net loss of $731-million, largely as a result of asset write-downs in various parts of the world.

Petrobank Energy & Resources Ltd. is launching a corporate reorganization aimed at streamlining activities and boosting shareholder value. It plans to distribute its 57-per-cent interest in subsidiary PetroBakken Energy Ltd. to its shareholders, followed by the creation of two new companies: New Petrobank and New PetroBakken.

Ford posted earnings per share of 40 cents, better than the 30 cents that analysts had forecast.

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