Energy issues gave a boost to Toronto Thursday morning. At midday, the S&P/TSX composite index was up 62.32 points, or 0.7%, at 9,464.95. Volume was 141.9 million shares.

Five of the 10 TSX groups were higher, led by a 2.1% rise in the energy group and a 1.6% jump in the materials group.

The gold index, which is a part of the materials sector, was up 2.5%.

Energy stocks rose after the International Energy Agency raised its global demand expectations and cut its forecast for non-OPEC supply growth.

The sector also benefited from some solid earnings reports.

Nexen gained $2.53, or 4.9%, to $53.75, as it jumped back into the black in the fourth quarter, helped by strong oil and gas prices and low operating costs.

Precision Drilling added $1.81, or 2.1%, to $89.70 after the oil field service company, said its fourth-quarter profit jumped 66%, driven by high energy prices and acquisitions.

Gold rose as the market saw some resolution to a long takeover battle.

Wheaton River jumped 5¢, or 1.25%, to $4.04 after Goldcorp shareholders backed its $2 billion takeover bid for Wheaton River, stopping a competing bid for Goldcorp from Glamis Gold.

Goldcorp fell 25¢, or 1.5%, to $16.94, while Glamis gained 67¢, or 3.1%, to $22.07.

A 1.9% dip in the technology sector tempered the gains. Research In Motion slipped $2.95, or 3.1%, to $92.80, while Nortel Networks was down 12¢, 3.1%, at $3.82.

In New York, blue-chip stocks rose on Thursday following the release better-than-expected economic data and healthy company earnings.

The Dow Jones industrial average was up 47.66 points, or 0.45%, at 10,711.77. The S&P 500 Index was up 2.30 points, or 0.19%, at 1,194.29. The tech-heavy Nasdaq composite ndex was down 0.58 point, or 0.03%, at 2,051.97.

In economic news, the U.S. trade deficit narrowed in December and the number of Americans claiming initial jobless benefits fell unexpectedly last week to the lowest level in more than four years.

The December trade gap totalled $56.4 billion, slightly below the average estimate of Wall Street analysts.