By Gavin Adamson

(February 15 – 12:30 ET) – For a change, tech stocks are being upstaged by other sectors, most notably the oils. Indexes reflected that at midday.

Oil speculators pushed the price of crude above US$30 this week. The increase came on the hunch that OPEC won’t give producers the permission to churn out enough supply for growing demand.

The TSE went up by 24.32 to 9,338.86, led by some of the oil stocks. Suncor Energy was up 85¢ to $62, while Talisman Energy added $1.70 to $40.95

Thomson led the media and communications subindex upwards. Its stock was up C$5.30 to $47 after the company announced it would sell off all its newspapers, except the Globe and Mail, and concentrate on electronic publishing.

CDNX was down at midday, by 25.50 to 3,342.87.

In the U.S., the Dow was up 62 points to 10,582, led by Exxon, Minnesota Mining and Manufacturing and American Express.

Nasdaq slumped by 83 to 4,335, pulled down by network companies, including software, Internet and semiconductors.