Bay Street stocks moved higher Monday with solid gains in energy, mining and information technology shares. At midday the S&P/TSX composite index was up 44.90 points, or 0.5%, to 8,574.79. Volume was light at 107 million shares.

Oil prices rose after Russia’s YUKOS suspended oil shipments to China. As a result, the TSX energy group was up 1.7%.

Encana Corp. was up $1.59, or 2.9%, to $57.10, while Suncor Energy shares rose 28¢, 0.7%, to $38.21.

The diversified metals and mining group was up 1.7%, propelled by gains in Stelco. Stelco shares jumped 13¢, or 12%, to $1.18.

Technology stocks were up 1.51%, lifted by gains in tech-bellwether Nortel Networks. Nortel shares were up 11¢, or 2.5%, to $4.51. The stock was the most active issue during the morning session, on a volume of 9 million shares.

News that Rogers Wireless Communications Inc. is offering $1.4 billion for cellphone rival Microcell Telecommunications, known for its Fido brand, sent Microcell shares up $1.97, or 6%, to $34.83.

Rogers Wireless and parent company Rogers Communications Inc. announced a deal with Microcell early Monday, offering $35 a share. Microcell management had previously dismissed a $1.1 billion bid from Telus Corp. as inadequate.

Rogers Communications shares slipped 80¢, or 3%, to $24.95, while Telus shares rose 27¢, or 1%, to $27.25.

The junior S&P/TSX Venture composite index was down 3.82 points, or 0.3%, at 1,529.11.

U.S. stocks traded mixed Monday as the Nasdaq erased early losses on a rebound in semiconductor shares, but blue chips continued to lose ground, weighed by profit warnings from Colgate and Unilever.

At noon, the blue-chip Dow Jones industrial average was down 57.15 points, or 0.56%, at 10,227.31.

Colgate-Palmolive warned that earnings for the second half will disappoint due to marketing spending and raw-material costs. Unilever cut its outlook, blaming bad weather in Europe and tough competition in laundry and hair-care products in Asia.

The tech-heavy Nasdaq composite index was ahead 5.86 points, or 0.3%, at 1,915.95. The broader S&P 500 was down 4.08 points, or 0.4%, at 1,124.47.