Toronto stocks are drifting lower in light trading on Tuesday. At midday, the S&P/TSX composite index is down 2.53 points to 8,132.90.

The information technology group is up 3.79%, propelled by a 32% jump in Research In Motion shares.

After the bell on Monday, RIM posted stronger-than-expected profits and guidance. Its shares are up leaped $20.12, to $81.54.

Sierra Wireless and Celestica are also higher.

The TSX materials sector is off 0.67%, weighed down by weak gold-mining issues. Gold stocks are down 1.53%.

In heavily weighted financial service group is down 0.23%. CIBC is up rose 5¢ to $63.60. Yesterday the bank agreed to pay US$80 million to settle in the Enron scandal. The bank said the financial impact of the deal will be under 10¢a share per year.

In economic news, Canada’s economy grew 0.2% in October from September on consumer and housing demand, Statistics Canada reported.

Meanwhile, Canadian wholesale trade in October dipped 0.1% as most sectors reported declining sales and the sharpest fall in inventories in more than four years.

In the United States, the closely watched University of Michigan’s consumer sentiment index had a final December reading of 92.6 versus 93.7 in November.

The Dow Jones industrial average is up 10.15 to 10,348.15. The tech-heavy Nasdaq composite index is up 9.85 points at 1,965.65. The broader S&P 500 is up 2.34 points at 1,095.28.