Stocks in Toronto made modest gains today due to bullish comments from IBM and a consequent rebound in tech shares. The Toronto Stock Exchange’s S&P/TSX composite index rose 35.55 points, or 0.56%, to 6,330.36. Volume was a slack 175.83 million shares valued in total at C$2.10 billion. Advancing market issues outnumbered decliners 609 to 412.

Investors are awaiting crucial economic data, due out during the final two days of the week. Canadian and U.S. gross domestic product data will be released on Thursday. U.S. unemployment and manufacturing statistics will be heavily scrutinized on Friday.

Techs rose 3.76%, comments given in an IBM customer meeting were reported, indicating that Big Blue sees signs the economy has hit bottom or flattened out.

Nortel Networks Corp. benefited from the news, climbing 17¢, or 10.1%, to $1.86. Sierra Wireless Inc. surged 56¢, or 8.6%, to finish at $7.08.

Industrial stocks climbed 1.82%, led by Ballard Power Systems Inc. and flight simulator maker CAE Inc. Ballard rose 74¢ to $17.14, after reporting a doubled third-quarter loss but reaffirming its 2002 sales and expenses forecast. CAE climbed 20¢ to $5.30, after saying it will be working with Boeing Co. to develop ballistic missile defense technology.

Energy stocks rose 1.3%. Talisman Energy Inc. led the way, rising $1.33 to $56.17 after announcing that it has discovered oil near its North Sea fields. Precision Drilling advanced $2.37 to $53.35.

In Toronto, the blue-chip S&P/TSX 60 index crept ahead 2.24 points, or 0.63%, to 357.02.

The S&P/TSX Venture Composite Index closed down 6.24 at 899.27. Trading was active on a volume of 31.6 million shares worth 7.0 million dollars, with 157 advances, 175 declines and 577 issues unchanged.

South of the 49th parallel, U.S. stocks gained modestly. The Dow Jones industrial average rose 58.47 points, or 0.7%, to 8,427.41. The Nasdaq composite index advanced 26.19 points, or 2.01%, to 1,326.73.