A major deal in the nuclear power industry is generating gains on the Toronto Stock Exchang Monday. At midday the S&P/TSX composite index is up 38.66 points to 6,599.28.

British Energy PLC is selling its 82.4% holding in Ontario’s Bruce Power nuclear electricity generating partnership for about $770 million.

Uranium miner Cameco is raising its holding in Bruce Power to 31.6% from 15%. Also taking 31.6% interests are TransCanada PipeLines and the Ontario Municipal Employees Retirement System.

Shares in Cameco jumped $2.09 to $39.62 after the widely expected deal was announced, while TransCanada gained 6¢to $22.53.

The TSX gold group is up1.9% at midday, while the information technology sector is up 1.3%.

Canadians consumers went on a shopping spree in October, Statistics Canada reported, with retail sales notably strong in the apparel and automobile sectors. Canadian retail sales advanced 1.7% in October to $26 billion, after remaining flat since June.

Retailers were buoyed by the news. Shares of Canadian Tire Hudson’s Bay and Sears Canada are all trading higher on the news.

Sherritt International and the Ontario Teachers’ Pension Plan extended their $1.8 billion takeover bid for Fording Inc. until Jan. 23. Sherritt stock dipped 2¢ to $4.22; Fording slipped 2¢ to $32.95.

Slater Steel announced it has received a waiver of the financial covenants of its $168-million debt. Its shares were up 64 cents at $3.93.

The TSX Venture Exchange is off slightly, down 0.95 points to 1,009.54.

In New York, stocks scrambled higher in late-morning trade on Monday as investors bid up tech shares on the hope that Yahoo Inc.’s purchase of a software maker will lead to further acquisitions in the sector.

The Dow Jones industrial average was up 32.77 points at 8,544.09. The broader S&P 500 Index was up 5.96 points at 901.72. The tech heavy Nasdaq composite index was up 18.88 points at 1,381.93.

Shares in Citigroup fell after the company said its quarterly earnings would be reduced by US$1.5 billion to pay for loan losses and the costs of settling charges of biased stock research.

In U.S. economic news, the Commerce Department reported Monday that consumers increased their spending by 0.5% in November, the biggest increase in four months. The report bolstered optimism that consumers will continue spending enough to keep the American economic recovery going.