Stock markets are mixed Friday after fund management firm CI launched a $1 billion acquisition and chip giant Intel raised its target for third-quarter revenue.

At noon, the S&P/TSX composite index was off 19.98 points, or 0.27%, to 7,496.47, after rising 25 points Thursday.

The technology sector was up 0.52% while utilities stocks rose 0.2% percent. Financials declined 0.6% and industrials fell 0.5%.

Volume is light with many traders still away on holiday. About 120 million shares have changed hands..

In the tech sector, ATI Technologies rose 83¢ to $20.10. Business software maker Cognos improved 36¢, to $42.90 while Celestica gained 65¢ $24.70.

In the financial sector, CI Fund Management fell 41¢ to $12.99. after it announced two deals worth almost $1 billion to buy and Synergy Asset Management and the Canadian operations of financial planner Assante. If approved, the deals would make CI Canada’s second-largest fund manager.

Assante rose 10¢ to C$8.80.

The junior S&P/TSX Venture composite index is up 1.49 points to 1,281.54.

On Wall Street stocks are mixed in light trading, following Intel’s upbeat outlook for the third quarter.

The Dow Jones industrial average was down 7.01 at 9,416.67.

The Nasdaq composite index was also higher for a second day. The Nasdaq rose 5.38 to 1,782.93.

The S&P 500 index slipped 3.53 to 999.74.