Stocks are getting a bit of a boost from some encouraging corporate news, and supportive economic reports.

At midday, the TSE 300 is up 35 points to 7,618.

Volume is on the weak side at 78 million shares, with buyers trumping sellers by about seven to five. Market breadth is much more even, with winners holding a tiny advantage over losers.

On a sector basis, stocks such as consumer companies, financials and real estate are gaining on some strong economic data. The health care stocks are rebounding from yesterday’s thumping. Tech issues are rallying, too.

All this glee has the golds losing their lustre, down 4%. There’s also selling in miners and materials.

Yesterday’s big trade, Biovail, is moving again today. This time it’s to the upside though. The stock is up about 3% in heavy trading, as investors creep back in cautiously after analyst comments hammered the stock yesterday.

Another recent casualty, BCE is up 2.4% in active trading today. BCE subsidiary, Telesat Canada, reported net earnings decreased to $12.6 million from $14.3 million in the first quarter of 2001 as a result of higher taxes.

Techs are generally stronger today, led by a 2.3% gain in Celestica. Cognos, Research in Motion, Royal Group Technologies and ATI are all rallying, too.

The banks are leading the financials higher once again today. National Bank is the top gainer, up 1.4% in active trading. Gains in Royal Bank are restrained by news of its latest U.S. acquisition, this time on the insurance side. However, the banks aren’t uniformly higher. TD Bank is down a little, and Laurentian is down sharply.

Other gainers include Alcan, Sobeys, Onex, MDC Communications and Counsel Corp.

The golds are naturally weaker amid the widespread strength in other sectors. Barrick is leading the way back down, off 2.3% in heavy trading. Kinross, Agnico Eagle, Placer Dome, Meridian Gold and Newmont are all weaker too.

Other losers include Cameco, CoolBrands and ALI Technologies. ALI is down after reporting $3.89 million in second quarter earnings.

In earnings news, Ivaco reported that it has first-quarter earnings of $2.8 million.

Emera has recorded consolidated earnings of $33.6 million in the first quarter of 2002, compared with $43.6 million for the same period in 2001.

Other business news has Akita Drilling announcing a 5% share buyback.

Goldcorp reports that it has closed its previously announced bought deal by a syndicate of underwriters led by Griffiths McBurney and Partners. Net proceeds of this financing will increase Goldcorp’s cash balance to more than US$225 million.

In the U.S., stocks are rallying, mainly at the hands of encouraging corporate news. The economic data out today has been read as neutral. The Dow Jones industrial average is up 171 points at midday to 9,991. The S&P 500 has gained 16 points to 1,081. The Nasdaq composite index is racing ahead, up 40 points to 1,696.

The S&P/CDNX index is decisively bucking the trend, down 12 points at midday to 1,151. Volume is on the light side at 15.8 million shares. The trade is decidedly bearish though. The top trader is Photochannel Networks, up 2$ to 11¢ on volume of 525,000 shares.