Stocks are stuck in neutral today, with little market-moving news, and a long-weekend looming, it seems that some traders have checked out prematurely. At midday, the S&P/TSX index composite index is unchanged at 8,197.

In Canada, the consumer price index came in with a 0.2% increase monthly increase on both the headline and core rates. Poor year over year comparisons made the annual rates spike higher, but economists say there are really few signs of building inflation. Therefore, they say that the Bank of Canada shouldn’t be looking to hike rates anytime soon.

Volume is quite light, with just 99 million shares changing hands. Selling action is outpacing the buying by a margin of around 11 to seven. Market breadth is almost dead even, however.

The market’s sectors are pretty evenly split, too, and the moves are all pretty small. Gold is the only group moving as much as 1% in either direction, in its case that direction is down.

Techs, materials, miners and consumer staples are all seeing a little profit-taking. However, there is buying in financials, utilities and real estate.

The financial group is largely supporting the market today, with Manulife 0.9% higher at midday. Scotia is leading the banks, up 0.8%, and there are smaller gains in Royal Bank and Bank of Montreal.

Energy stocks are rallying a bit, too, with gains coming in EnCana, Talisman, Penn West Petroleum, Canadian Natural Resources, Canadian Oil Sands Trust,

There are a few story stocks today. Nortel is down 1.5% in relatively active trading of 10.3 million shares, as traders speculate about what may be uncovered by various investigations into the company’s finances and bonus plans.

Air Canada remains a hot trade, as traders speculate over how its restructuring will play out. It is up 5% in active trading. Rival WestJet is down 3.8%, though.

Microcell is being traded actively, as the merger arbitrage game continues in that stock. But, the price is hardly changed.

Eldorado Gold is not so fortunate. It is seeing huge downside volume, dropping 4.2% on 16.3 million shares traded on news that a feasibility study for a mine in Turkey has been updated to account for higher input costs and much higher taxes.

Rogers Wireless is down 3.5% on news that Rogers Communications did not reach an agreement to acquire AT&T Wireless Communications Inc.’s 34.1% interest in Rogers Wireless during the 21-day exclusive negotiation period. Under the terms of the shareholders agreement between RCI, Rogers Wireless and AWE, AWE will have the ability over the next 60 days to attempt to sell its entire Rogers Wireless stake to third parties.

Generally, the trade has a slightly negative tone to it. Several recent winners are getting hit, led by a 1.4% drop for Inco. Cott has given back almost 4%. Alcan is about flat, BCE is down, and Research in Motion is lower too. Other losers include Neurochem, Canadian Tire, Quadra Mining, PetroKazakhstan and Zenon Enviro.

Zenon is down 2.8% on news that it has entered into an agreement with a syndicate of underwriters led by GMP Securities Ltd., for a $90.1-million bought deal.

In earnings news, ATS Automation Tooling Systems has gained 4% on news that its quarterly net loss was $3.1 million. But, excluding unusual charges, net earnings were $2.8 million, compared with $900,000 in the fourth quarter of last year. Also, its outlook is much improved, and it expects to build a solid earnings recovery in fiscal 2005.

The firm also said that Ron Jutras, ATS’s executive vice-president and chief financial officer, has been appointed chief operating officer. The appointment was made to enable the company’s president and chief executive officer Klaus Woerner to devote time to recover from a serious illness.

Elsewhere, Kinross Gold has appointed Lars-Eric Johansson as executive vice-president and chief financial officer. Johansson was formerly executive vice-president and chief financial officer of Noranda.

Ivanhoe Mines has divided the responsibilities of the chief financial officer and created a new position of treasure due to the increased demands and complexities of financial management as the company moves forward with the development of its copper and gold project in Mongolia. Peter Meredith becomes the company’s chief financial officer, and Pierre Masse, the company’s current CFO, assumes the position of vice-president and treasurer. The changes take effect immediately.

Other gainers include Forzani, Angiotech, Methanex, Cameco, and Great Canadian Gaming.