Bay Street stocks were higher Tuesday, getting a boost from insurance issues even as oil prices reversed earlier declines. At midday, the S&P/TSX composite index was up 32.56 points or 0.37% at 8,781.72.

Crude-oil futures headed higher late Tuesday morning reversing early declines. Crude for December delivery rose 18¢ to $US54.27 a barrel on the New York Mercantile Exchange..

Statistics Canada reported inflation well under control, with the annual inflation rate coming in at 1.8% in September, down slightly from August. The core inflation rate came in unchanged at 1.5 per cent.

Six of the10 TSX sectors were higher led by a 1.76% jump in technology issues. The heavily weighted financials group was up 0.85%.

Nortel Networks, the session’s most active issue so far at 4 million shares, was up 12¢ at $4.19.

Among financial issues insurance stocks rose after Jeffrey Greenberg resigned yesterday as chief executive of Marsh & McLennan — the insurance broker accused recently of rigging bids by New York Attorney General Eliot Spitzer.

Manulife gained 87¢ to $54.27, while Sun Life added 37¢ to $36.33.

The materials group was down 0.65%. Gold stocks pulled back 2.48% as bullion prices eased. Eldorado Gold fell 6.33% to $3.70, while IamGold slipped 2.6% to $9.00.

Barrick Gold shares fell 54¢ to $27.00 after the company posted a profit of US$32 million, or 6¢ a share, down from US$35 million, or 7¢ a share, a year earlier.

The energy, industrials and utilities group were also lower.

In other earnings news, Rogers Communications. reported a third-quarter profit of $61.6 million, compared with a loss of $17.4 million a year ago. Rogers shares fell 43¢ to $27.20.

Canadian Pacific Railway said it nearly doubled its third-quarter profits, helped by a gain on foreign exchange and increased volume. The railway said it earned $176.5 million or $1.11 per share for the three months ended September 30. CP shares slipped 14¢ to $33.75.

The junior S&P/TSX Venture composite index was off 9.48 points or 0.57% at 1,653.73.

In New York, stocks climbed despite the rebound in oil prices. At midday, the Dow Jones industrial average was up 68.36 points or 0.70% at 9,818.35.

The tech-heavy Nasdaq composite index was ahead 1.82 points at 1,915.86, while the broader S&P 500 advanced 7.13 points or 0.65% to 1,101.93.

Shares of both PeopleSoft. and suitor Oracle. traded higher Tuesday after European regulators unconditionally gave the proposed US$7.7 billion deal the go-ahead, removing another potential hurdle.

Consumer confidence in the United States softened for the third straight month in October, the Conference Board said Tuesday.