Toronto stocks were up slightly Friday morning with higher gold and oil prices fuelling gains, while U.S. stocks were hit by drug woes.

At midday, the S&P/TSX composite index was up 8.31 points or 0.09%, at 9124.95, while the TSX Venture exchange was off 12.81 or 0.10% at 1725.16.

In New York, the Dow Jones industrial average was down 63.18 points or 0.59% at 10642.46. The S&P 500 was down 9.71 points or 0.81% at 1193.50. The technology-heavy Nasdaq composite index was down 9.71 points or 0.32% at 2139.20.

The Canadian dollar was trading at US81.55¢, up 0.46 of a cent.

In Toronto, the 10 TSX main groups were evenly divided in gains and losses.

Gold miners led on the positive side, climbing 0.88% on a firmer bullion. Glamis Gold, which announced a takeover bid for Goldcorp on Thursday, led the climb and was up 19¢, or 0.87%, at $22.02. Goldcorp stock, which jumped nearly 10% on Thursday, rose 5¢, or 0.27%, to $18.80.

Telecom stocks gained 0.56%.

Rogers Wireless Communications climbed $1.85, or 3.74%, to $51.35. Just before markets opened, Rogers Wireless said its board approved a $1.4 billion loan to parent Rogers Communications.

Shares of Telus rose 42¢, or 1.22%, to $34.72 after it raised its 2004 profit forecast, and predicted 2005 revenues and profits would be stronger.

The financial group was down 0.1%, selling off slightly after a four-day climb.

Bank of Montreal dropped 46¢, or 0.81%, to $55.99.

In New York, stocks came under pressure following news from Pfizer Inc. that patients in a study showed an increased risk of heart attacks after taking its popular Celebrex drug.

Pfizer plunged 17.4% to US$23.95.