Stocks are sharply divided Thursday, leaving the S&P/TSX composite index little changed at midday. The benchmark index is just 12 points higher to 8,550.

More second-tier economic data was released this morning, and it was generally viewed as supportive. Jobless claims in the U.S. unexpectedly ticked up, but productivity numbers were huge. In Canada, building permits data was stronger than expected.

At midday, Toronto volume is average at 143.6 million shares, with buying outweighing the selling by a 42:25 margin. However, market breadth is negative, with losers outnumbering winners by an edge of almost six to five.

Gold stocks are up more than 1%, and techs aren’t far behind. There is also some strength in miners, materials and consumer discretionary stocks.

However, energy trusts are plunging, down 2.25%, while traditional energy names are off 0.85%.

Suncor Energy is down 2% on news that production has been weaker than expected due to maintenance to equipment and extremely cold weather. There is also weakness in Petro Canada. But the trusts are getting a thumping, with Petrofund Energy Trust and Bonavista down 5.6%, Paramount, Ultima, Harvest Energy, Focus Energy and Acclaim Energy are all down heavily.

Health care stocks and telecoms are notably lower, too.

Nortel is leading the tech group higher, rising 2.2% in solid volume. Research in Motion is 2.4% higher, as techs recover some of their recent losses.

There is also recovery among the miners, with Noranda and Falconbridge both up about 3%. Alcan is higher, Ivanhoe Mines is up 2.8%, and Tahera has jumped 12% although there’s no news from the firm. Although, Inco is modestly lower.

Individual news is also driving some trades. Thistle Mining has gained 16.4% on news that it has discovered a new, significant resource block at its President Steyn complex in South Africa.

Similarly, CP Ships for example, is up 2.1% on news that it experienced fourth quarter net income of $41 million, compared with $23 million in fourth quarter 2002. For 2003 over all, net income was $82 million compared with $52 million in 2002.

Other gainers include Air Canada, Four Seasons, Bioscrypt, and Inflazyme Pharma. Penn West Petroleum is higher, as is Endev Energy and Ivanhoe Energy is up 3.8% on news of a new discovery that it calls significant.

Talisman Energy reports that a subsidiary has been awarded two new exploration licences in the Norwegian North Sea.

The financial sector is mixed. Bank of Montreal has dropped more than 1% on talk that bank mergers may be harder to carry off than expected. CIBC is down half a percentage point, too. However, Royal Bank, TD Bank and Manulife are all up modestly. Manulife reported record net income of $1.55 billion for 2003, an increase of 12% over 2002. .

There is also weakness in BCE, FNX Mining, and Aeterna Labs. ATS is down 15.7% on news that it experienced a net loss of $1.6 million (in its’ third quarter. It blamed the weakness on the dollar and tax changes.

In business news, Brascan Corp. is bidding US$2.9 billion for Canary Wharf Group PLC, along with several institutional investors. However, a group led by Morgan Stanley is raising its’ bid in response.

In earnings news, Potash Corp. of Saskatchewan has posted fourth quarter net income of $26.5 million. For the year, the company reported a loss of $126.3 million. The loss is largely attributable to impairment charges and shutdown costs of $203.2 million reported in previous quarters, related to asset writedowns, work force reductions and contract terminations.

Axcan Pharma had first quarter net income of $10.4 million. Paladin Labs lost $4.2 million in 2003. And, Mad Catz Interactive saw its’ third quarter earnings slip to US$1.6 million.

Shaw has released further detail to its guidance for fiscal 2004. Shaw increased its consolidated free cash flow target for fiscal 2004 to $275 million from $195 million to $250 million. It also upped operating income estimates and lowered capital expenditure forecasts.

In New York, stocks have little direction. The Dow Jones industrial average is up just nine points at midday to 10,480. The Nasdaq composite index has gained three ticks to 2,017.

The S&P/TSX Venture index is quite weak, down 13 points to 1,775. Volume is solid at 38.9 million shares. Beartooth Platinum is leading the way, up a penny to 25¢ on 3.2 million shares.