Toronto stocks were higher Tuesday lifted by oil prices and news that Telesystem International had sold its last key assets to British-based Vodafone Group Plc.

At midday, the S&P/TSX composite index was up 38.77 points, or 0.40%, to 9,754.13. Volume was 136 million shares worth.

All but one of the TSX’s 10 main groups were in the black, with utilities being the only holdout.

Toronto’s heavily weighted energy stocks advanced 0.5% as oil prices held above US$54 a barrel following comments from OPEC producers that an output increase could not guarantee a cap on prices. The group meets on Wednesday.

Telecom stocks rose 0.70% on news that Montreal-based Telesystem had sold its stake in Romanian mobile phone group Mobifon and Czech wireless group Oskar Mobil to Vodafone — the world’s largest mobile phone company by revenue — for $4.4 billion, including debt. Telesystem shares climbed 57¢, or 3.18%, to $18.52.

Tech stocks were up 0.07%, lifted by Research In Motion , which extended Monday’s gains, climbing $1.74, or 2.17% to $81.80. Shares of the BlackBerry device maker surged on Monday following talk of a settlement in its patent infringement case in the United States with NTP.

The heavily weighted financials group gained 0.55% with Royal Bank up 81¢, or 1.12% to $72.85.

The materials group advanced 0.26%, helped by a $2.27, or 4.67% gain by steelmaker Ipsco to $69.50. The company announced a share repurchase deal of up to 10%, or about 4.2 million shares, over the next year to boost shareholder value.

The junior S&P/TSX Venture composites index was up just 0.38 of a point at 1,977.67.

In New York, U.S. stocked turned lower as weakness in Intel dragged semiconductor stocks down, and insurance giant American International Group weighted on blue chips.

The Dow Jones industrial average was down 29.34 points, or 0.27%, at 10,775.17 and the S&P 500 Index was down 4.32 points, or 0.36%, at 1,202.51. The technology-heavy Nasdaq composite index was down 11.41 points, or 0.56%, at 2,036.63.

AIG shares fell 3%, or $1.98, to US$61.87. The insurer’s board decided to shunt aside long-time chief Maurice “Hank” Greenberg on Monday, and rating agency Fitch downgraded AIG’s long-term debt ratings on Tuesday.