Stocks in Toronto moved up slightly today, though trading was light. South of the 49th parallel, American traders and investors were enjoying a long weekend to celebrate Presidents’ Day.

The Toronto Stock Exchange 300 composite index closed up 43.33 points to 7,558.63 with industrial products leading the way. Market momentum was positive. Advancing issues outdid declining issues 521 to 469 on a very light volume of 78.7 million shares worth $838 million.

The S&P/TSE 60 index crept up 3.36 points, a mere 0.79%, to 430.97. Nine of the TSE 300’s 14 sub-indexes finished higher, led by a 1.45% gain in the industrial products group. In that group, Nortel Networks Corp. closed up 42¢ to $9.30. Ballard Power Systems rose $1.25 to $41.45.

On the other side of the trading scale, golds fell 1.39% and precious minerals sector slipped 0.45%. Placer Dome Inc. lost $1.03, or 5%, dropping to $18.80. Research Capital stated that Placer Dome has no growth prospects and is dealing with maturing mines. It issued a “hold” recommendation on the stock. Agnico-Eagle Mines Ltd. finished down 34¢ at $9.89. Barrick Gold slid 10¢ to $29.25.

Shares in Loblaw Cos. Ltd., the country’s largest grocery chain, closed down 3% after speculation faltered about a potential takeover by Wal-Mart Stores Inc. That talk boosted the stock last week, but it was dismissed by Wal-Mart today. Loblaw shares fell $1.95 to $56.50.

The S&P/CDNX Composite Index closed down slightly today. The venture exchange slipped 7.98 to 1132.63. Trading was active on a volume of 28.8 million shares worth $9.7 million. There were 190 advances, 188 declines and 486 issues unchanged.