Energy and technology issues, with a last-minute boost from financial stocks, kept the S&P/TSX composite in the black on Wednesday, while a rising U.S. dollar gave U.S. investors renewed life.

At close, the S&P/TSX was finished ahead 12.79 points or 0.14% to 9003.74. The mining-heavy TSX Venture exchange fell victim to slipping gold prices, losing 30.89 points or 1.80% to 1681.30.

In New York, the Dow Jones industrial average rebounded from Tuesday’s 100-plus point loss to finish up by 53.65 or 0.51% to 10494.23. The Standard & Poor’s 500 index added 5.74 or 0.49% at 1182.81 and the Nasdaq composite index gained 11.45 or 0.54% to 2126.11.

The Canadian dollar was down more than a full cent at midday, but rebounded. It was trading at US82.31¢, off 0.48 of a cent as the U.S. greenback made global gains and currency markets responded to the Bank of Canada’s decision to leave interest rates unchanged.

Crude oil futures vacillated between $41 and $42 per barrel after the Energy Department said fuel inventories were higher than Wall Street expected, but that supplies of distillates such as heating oil rose more slowly. A barrel of light crude was quoted at US$41.94, up 48¢, on the New York Mercantile Exchange.

In Toronto, gains by the energy and technology sub-groups paced the S&P/TSX. Technology issues added 1.15%, thanks largely to Nortel Networks Corp., which said Wednesday it plans to update its much-maligned financial results next week. Nortel stock was trading at $4.59, up 1.55% late in the day.

Energy stocks gained 0.56%. Among the bigger energy movers was Shell Canada Ltd., whose shares jumped 1.28% to $74.52 after the company announced a “major” natural-gas discovery in the Rocky Mountain foothills of central Alberta that may boost fuel production and reserves. The discovery may contain 500 billion to 800 billion cubic feet of raw gas, Calgary-based Shell Canada said in a statement. About 60 percent may be recoverable as a marketable fuel.

Financial stocks were off, by 0.05%, but rallied late in the day to help the big picture.

Gold shares were 1.13% as the price of gold fell by almost $15 on the New York mercantile exchange. Spot prices were down $14.80 to US$437.20 as investors abandoned bullion for the U.S. dollar.

In New York, the Wall Street was encouraged as the dollar gained against the Japanese yen after Japan’s government reported slower-than-expected economic growth in its most recent quarter. Analysts had been concerned that the weak dollar could lead to a drop in foreign investment.

Investors were also digesting a disappointing earnings forecast from Dow component Merck & Co. The drug maker warned that its 2005 profits would be lower than analysts expected due to the withdrawal of its Vioxx arthritis drug from the market earlier this year. Merck nonetheless rose 2.87% to $28.69 as it reaffirmed its 2004 earnings targets.

Texas Instruments Inc. lost 3.88% to $24.05 after it narrowed its 2005 earnings and revenue forecasts, which still fall within Wall Street’s estimates, but said 2004 earnings remained on target.

The dollar, meanwhile, moved sharply higher against its major rivals, finding support from commodity-linked currencies, which stumbled amid weakness in metals prices.