Bay Street stocks gave a mixed performance Wednesday morning with gains in resource shares offsetting weak performance among technology and banking issues.

The S&P/TSX composite index inched ahead one-half of a point to 8,49.09 on a volume of 128.5 million shares.

Energy share climbed 0.4% as crude oil futures prices jumped toward US$45 a barrel as hurricane Ivan roared toward the Gulf of Mexico coast and after the U.S. government reported a sharp drop in the country’s oil supply from a week ago.

A decision by OPEC to increase its oil production by 1 million barrels a day beginning Nov. 1 to meet strong world demand did little to tame the rising price of oil. The move will bump OPEC’s output limit to 27 million barrels a day.

In the materials group, shares in Potash Corp. rose 1.06, or 1.4%, to 76.07, after the company bumped up its earnings outlook for the current quarter, citing strong demand from Latin American and Asia.

Late Tuesday, the company raised its guidance to 65¢ to 75¢ a share on a post-split basis, up from the previous range of 50¢ to 60ç.

Technology shares slipped 0.8% following a profit warning from Celestica. Investors sold off shares in Celestica, a day after the company issued a profit and revenue warning for its third quarter.

Shares of the electronic components maker were off almost 12%, falling $2.14 to $16.65.

In the heavily weighted financial services group, Royal Bank shares fell 21¢ to $60.05 after Fitch Ratings placed the bank of a negative rating watch following its recent corporate overhaul, and missteps in the U.S. market.

TD Bank shares slipped 31¢ to $45.77.

The junior S&P/TSX Venture composite index was up 0.93 points at 1,515.56.

U.S. stocks fell Wednesday on a jump in oil prices after the latest industry data showed demand for crude remained high, with a profit warning from Coca-Cola further weighing on sentiment.

A key survey showing a pick-up in manufacturing activity also unsettled investors as it raised the prospect of the U.S. Federal Reserve raising interest rates not only in September but also at its November meeting.

The Dow Jones Industrial Average was down 68 points, or 0.7%, at 10,250, with Coca-Cola sliding 4.1% following its second-half profit warning.

The tech-heavy Nasdaq composite index fell back below 1,900, and was down 20 points, or 1%, at 1,895. The S&P 500 index fell 7 points, or 0.6%, to 1,121.