The markets are flat today. At midday, the TSE 300 is unchanged at 7,586.

Volume is improving, at 61.7 million shares, with sellers holding a slight edge on buyers.

Losers outnumber winners by a margin of about five to four.

Media stocks are weak today, as are golds, financials, conglomerates and pipelines. On the upside, techs are stronger, as are biotechs and utilities.

Nortel Networks is bouncing a bit today, as a few strong earnings reports in the United States. help boost the sector generally. The stock is up almost 4% at midday, in active trading.

C-MAC and Siebel are also getting a boost, but losers include JDS Uniphase, Mosaid Tech, Zi Corp. and Creo Products.

Other gainers include QLT, Alcan, Transalta, Rogers Communications and Maverick Tube.

On the downside, Barrick and Placer Dome are taking the golds down, overwhelming some buying in Meridian Gold. Banks are weak, led by CIBC and TD.

CP is leading the conglomerates down, and Celestica is weak, too. Other losers include CHC Helicopter, Hemosol, Aber Diamond and Uni-Select.

On the news front this morning, TransCanada’s TC PipeLines reports second quarter net income of US$9.8 million, this compares with US$8.5 million in the period last year.

Shell Canada has reported second quarter earnings of $314 million or $1.14 per common share compared with earnings of $168 million or 59¢ a share for the second quarter of 2000.

Agnico-Eagle Mines today disclosed a second quarter net loss of $1.1 million, or 2¢ a share, compared with a net loss of $3.4 million, or 6¢ a share in the second quarter of 2000.

In New York, markets have been choppy. At midday, the Dow Jones industrial average is up just 18 points to 10,259. The Nasdaq composite is down 10 points to 1,949. The S&P 500 is up two ticks to 1,174.

The CDNX is in the black today. It has gained four points to 3,078. Volume is improved at 15.8 million shares.

Techs are leading the way higher, up 1.7%, overcoming slides in both mines and oils. C-Com Satellite is the top trader, recovering 22% to 22¢ on more than 3.4 million shares.