Toronto stocks rose Friday as gold and energy issues posted gains. At midday the S&P/TSX Venture composite index was up 40.30 points, or 0.45%, at 8,926.47 on volume of 144 million shares.

Gold stocks climbed 2.29% as bullion prices approached a 16-year high.

The materials group, home to precious metals companies, was up 1.66%. Kinross Gold gained 32¢, or 3.34%, to $9.90. Barrick Gold added 65¢, or 2.4%, to $27.70.

Energy stocks gained 1.20% as oil futures remained above US$47 a barrel.

Petro-Canada shares were up $1.14, or 1.77%, to $65.62. Encana shares rose $1, or 1.61%, to $63.10.

Among today’s losers were technology shares. The TSX information technology group fell 1.59% as Nortel Networks fell 37¢, or 9%, to $3.67. On Thursday, the firm missed its third deadline for refilling financial results.

In financial services news, shares of Rockwater Capital Corp.rose 6¢, or 8.4%, to 77¢. Rockwater today announced it has reached a deal to pay about $100 million in cash, stock and debt for KBSH Capital Management Inc., an investment management firm with $6.3 billion in assets under management for pensions, institutions and other clients. Rockwater also said it plans to consolidate its stock on a ratio of one for 10.

The junior S&P/TSX Venture composite index was up 1.62 points to 1,632.67 at midday.

In New York, stocks were flat despite better-than-expected data on U.S. retail sales and consumer confidence.

At midday, the Dow Jones industrial average edged up 4.79 points to 1,632.67. The tech-heavy Nasdaq composite index gained 3.52 points to 2,064.79, while the broader S&P 500 rose 1.17 points 1,174.65.

Investors appear to be locking in profits after watching the major indices climb in recent weeks.