Toronto stocks are up moderately on Monday as investors react to the day’s earnings reports. At midday, the S&P/TSX composite index is up seven points to 7,724.

The heavily weighted financial index is up 0.5%, while the materials sector has added 1%

Financial issues were getting a boost from a record profit from Citigroup Inc. in New York.

In Toronto, TD Bank and Royal Bank are both up nearly 1% in Monday trading.

In Canandian earnings news, WestJet said its third-quarter profit rose 40% and revenue passenger miles increased. WestJet share are up 45¢ to $26.50.

The junior S&P/TSX Venture composite index is up two points to 1,437.98.

In New York, stocks are moderately higher at the start of a busy earnings week. Citigroup said that third-quarter profit rose 20% to a record high, helped by higher investment banking, retail banking and credit card revenue, and fewer loan defaults.

3M posted better-than-expected quarterly earnings on the weaker U.S. dollar and strong sales in the Asia-Pacific Rim area.

The Dow Jones industrial average is up 25 points to 9,747. The tech-heavy Nasdaq composite index is up four points 1,916, and the broader S&P 500 is up a point to 1,040.