Toronto stocks closed flat after a quiet session Monday. The benchmark S&P/TSX composite index advanced 1.95 points to 6,784.85.

Volume was a light 92 million shares valued at $729.8 million changed hands. Market momentum was positive as 561 issues advanced and 499 declined.

U.S. markets were closed for the Memorial Day holiday, while U.K. markets were closed for the Bank holiday.

Information technology stocks slipped 1%, after a sharp drop by Research In Motion.

RIM shares tumbled $3.66, or 13%, to $23.74, after the company said it will take a charge of up to US$19.25 million due to the latest court rulings in an intellectual-property case.

Celestica shares slipped 29¢, or 1.6%, to $18.23.

Air Canada finished down 1¢, or 0.6%, at $1.71, after the union that represents reservation and ticket agents said they had reached a wage- and job-cutting deal with the struggling airline.

Active stocks included BCE, ahead 28¢ to $29.28; Sun Life, up 26¢ to $27.39; and Placer Dome, climbing 18¢ to $15.38.

Hudson’s Bay Co. shares were down 1¢ to $10 after the retailer posted a quarterly loss of $34 million and lowered its outlook.

The TSX Venture Exchange lost 2.91 points at 1,085.52.

The Canadian dollar moved a narrow range in the absence of London and U.S. markets on Monday.

The Canadian dollar closed at US72.83¢ up slightly from US72.76¢ at Friday’s close. Trading was fairly thin as New York and London were closed for public holidays.

Investors will be looking ahead to Tuesday, when BMO Financial Group and Scotiabank both announce the details of their second quarter results.