Toronto stocks are flat Tuesday as investors await tomorrow’s decision on U.S. interest rates by the Federal Reserve Board. At midday, the S&P/TSX composite index is off 10.91 points at 7,003.75.

The information technology sector is up 0.4%, while the financial index rose 0.3%.

Bank stocks are unaffected by Monday’s comments from Canadian Finance Minister John Manley, who said any bank merger proposals would have to wait until the end of September 2004.

The information technology sector is working to restore damage from Monday’s 2.7% slide.

Nortel and ATI Technologies are both higher at midday.

The S&P/TSX Venture composite index is off 3.41 points at 1,101.77.

In New York, blue chip stocks are flat and technology stocks are lower as investors maintain their interest-rate vigil, shrugging off the latest report on U.S. consumer confidence.

The Conference Board reported its U.S. Consumer Confidence Index slipped to 83.5 in June — surpassing economists’ expectations for a reading of 82.4 — from 83.6 in May.

The Dow Jones industrial average is up 10.43 points at 9,083.38. The S&P 500 is down 1.44 points at 980.20. The Nasdaq composite index is off 10.96 points at 1,599.79.