Toronto stocks moved in a narrow range on Tuesday as losses among gold stocks offset gains in technology shares. The S&P/TSX composite index finished up just 1.10 points at 6,810.98.

The information technology sector notched a 1.6% gain and telecoms added nearly 1%.

Shares of Nortel Networks closed up 9¢, or 2.3%, at $3.98, while Research In Motion rose 86¢, or nearly 4%, to $23.76.

Technology stocks could also rally further as Intel Corp. the world’s largest maker of microprocessors, posted a higher fourth-quarter profit after the markets closed.

Gold stocks shed 4.7% despite the tension over Iraq and North Korea. Barrick Gold dipped 73¢ to $23.12, while Placer Dome Inc. fell 94¢ to $17.11.

Manulife Financial shares rose 12¢ to $35.70 after a report said the federal government rejected the company’s plan to buy CIBC. Shares of CIBC rose 27¢ to $45.24.

CGI Group shares added 8¢to $7.13 after it said 90% of Cognicase shares had been tendered to its takeover offer.

Market momentum was positive as advancers eked out declining issues 577 to 571. Toronto volume was robust as 283 million shares worth $2.9 billion changed hands.

The junior TSX Venture Exchange declined 12.07 points to 1,110.57.

In New York, U.S. stocks closed with decent gains as upbeat earnings news helped investors forget all about the retail sales data for December that dampened the mood earlier in the session.

The Dow Jones industrial average added 56.64 points to 8,842.62 and the tech-heavy Nasdaq composite index gained 14.95 points to 1,460.99. The S&P 500 was ahead 5.40 at 931.66.

The Canadian dollar rose to US64.91¢, up from US64.87¢ at Monday’s close. The loonie traded as high as 65.02 cents US – its highest level in six months.