A strong showing by technology stocks has the S&P/TSX composite index up 50 points, or 0.6%, to 8,560.02 at midday.

Over 96 million shares have changed hands so far, with 656 advances and 474 declining issues.

The technology sector is up almost 3%.

Research In Motion has gained $5.28 to $123.28, following Friday’s news that it will receive royalties and a settlement from Good Technology as part of a deal that will see the firms dismiss pending lawsuits.

Tech bellwether Nortel Networks is up 38¢ to $7.87.

The materials sector is up 0.16%, with Ipsco up $1.14 at $25 as investors cheered the steel pipe maker’s bright outlook.

On Friday, Ipsco said it expected to beat analysts’ estimates by at least 50%.

However, Aber Diamond dipped $1.27¢ to $41.88 after it lowered its 2004 diamond production output at its Diavik Diamond mine due to low-grade kimberlite.

Gold shares are down almost 1%, as investors abandon the safe haven to invest in technology stocks. Placer Dome is off 36¢ at $23.17, while Bema is down 27¢ at $4.48. Barrick Gold, however, is up 29¢ at $30.39.

The energy sector has edged up 0.8% with investors snapping up energy stocks ahead of the OPEC.

Health-care stocks are up 1.57%, as several stocks in the group including Angiotcech, Axcan Pharma, QLT, AEterna are up more than 1%

The junior S&P/TSX composite index is off 8 points to 1,855.

On Wall Street, stocks are powering broadly higher Monday, following positive analyst comments on a number of blue chip companies and strength in semiconductor sector.

At midday, the Dow Jones industrials average is up 121 points, or 1.2%, to 10,335.

The technology-heavy Nasdaq composite index is up 34 points, or 1.8% to 1,994, and the broader S&P 500 index has added 14 points, or 1.3%, to 1,122.