Markets have turned their opening frown upside down once again today.

At midday, the TSE 300 is up 51 points to 6,995.

Volume is on the light side at 62.5 million shares, with buying ahead of selling three to two. Winners have a nine to eight edge on losers.

On a sector basis, there’s strength today in tech, energy stocks and financials. Transports are up too. The weakness is concentrated in real estate, pipelines and merchandisers. Mines and forest products are generally down as well.

Techs are making gains today, overcoming yesterday’s weak earnings from JDS Uniphase. Nortel Networks is leading the way higher. There’s also strength in C-Mac and Open Text. Celestica is down a bit however, as is JDS and BCE Emergis.

The financials are heavy traders today, with notable action in both the banks and insurers. The banks are providing the upward push, with both CIBC and Royal Bank up about 2% in active trading. Sun Life is weaker today, down about 1% in heavy trading, although Manulife is bouncing back.

BCE is bouncing up today, as is Bell Canada International. Media firms, Torstar and Corus are up notably, too.

There’s plenty of action in the energy group today. Westcoast Energy is down in active trading, but there are gains for Talisman, PanCanadian, AEC and Rio Alto.

Franco-Nevada is up more than 3% after announcing earnings from continuing operations rose 35% to a record $30.2 million in its latest quarter, up from $22.3 million in the same period last year.

By contrast, fellow gold miner Cambior is reporting a net loss of $8.5 million compared with restated net earnings of $10.5 million in the corresponding period of 2000.

On the downside, there’s also weakness in Hemosol, QLT and Global Thermoelectric. Manitoba Telecom, Agrium, Brookfield and Onex are down, too.

In other earnings news, SNC-Lavalin says it earned $6,885,000 during the third quarter.

724 Solutions lost an incredible US$387.3 million in the quarter on revenues of US$10 million. Pro forma net loss for the quarter was US$17 million, compared with US$10.9 million in the same period last year. The company also recorded a one-time, non-cash charge of US$329.1-million, primarily related to the partial writedown of long-term investments and good will from acquisitions.

Fellow tech firm, Hummingbird Ltd reported a net loss of $3.1 million, compared with net income of $6.2 million for the quarter in 2000.

GSI Lumonics Inc says it incurred a net loss of $8.5 million for the third quarter, compared with a profit of $7.2 million in the same period in 2000.

Newalta saw its operating income increase 110% from the same period last year while earnings increased 150% to $3.9 million. The firm says that the increases reflect robust market conditions and relatively strong commodity prices during the quarter, as well as the success of pricing adjustments in the second quarter and improved operating efficiency.

In New York, an early selloff has given way to yet another rally, as bargain hunters have gained the upper hand due to some comforting economic numbers out mid-morning.

The Dow Jones industrial average is up 43 points to 9,506. Nasdaq has gained one point to 1,775. The S&P 500 is up two ticks to 1,102.

The CDNX is up today too, gaining nine points to 2,954. Volume is strong today at 16.3 million shares. Mines are driving the way higher, up more than 1%, overcoming weakness in techs and oils. Carvelle Capital Inc is the top trader, up 25% to 25¢ on 1.5 million shares.