Toronto stocks finished flat Thursday, despite getting a boost from merger activity in the gold sector.

The S&P/TSX composite index closed up 5.39 points, or 0.04%, at 12,073.75.

Overall, four of the 10 main TSX groups were higher.

Goldcorp Inc. announced it will buy U.S.-based Glamis Gold Ltd. for about US$8.6 billion in stock, pushing gold sector shares up 8%.

Goldcorp’s stock fell $3.22, or 9.5%, to $30.55, while Glamis jumped $7.68, or 17.8%, to $50.70, making it the net gain leader.

The TSX gold sub index was up 2.55%, as the price of gold rose $8.10 to US$634.20 an ounce.

The real estate group was up 5.4%.

Summit Real Estate Investment Trust units jumped by $4.35, or 17%, to $29.80, after Summit said it had agreed to a $3.3 billion takeover bid from ING Real Estate Canada Trust.

The deal, announced after markets closed on Wednesday, boosted Summit units by $4.35, or 17%, to $29.80.

The heavily weighed financials group slid 0.4% after CIBC reported that third-quarter profit increased on higher retail banking income, buy revenue was lower than a year earlier.

CIBC shares fell $1.27, or 1.6%, to $80.33

National Bank shares also slipped after the bank posted a 6.3% jump in profit, as revenue rose at their three main business units.

National slipped $1.84, or 3%, to $59.97.

Oil prices rose 23¢ to close at US$70.23 a barrel in trading on the New York Mercantile Exchange.

The Canadian dollar closed 0.31 of a cent higher at US90.47¢ on Thursday.

U.S. stocks finished slightly lower on Thursday, as investors were cautious ahead of the release of the U.S. jobs report on Friday.

Dow Jones industrial average fell 1.76 points to 11,381.15. The S&P 500 was off 0.45 points to 1,303.82, and the Nasdaq fell 1.98 points to 2,183.75.

The U.S. Commerce Department reported Thursday that consumer prices rose by 0.1% in July, less than what economists had forecast. That lowered concerns about inflation and worries about possible interest rate increases.

Another U.S. report showed that retail spending rose by 0.8% last month, twice the 0.4% gain shown in June. Also, the Labour Department released figures showing a drop in the number of recently laid off workers filing for unemployment benefits.