Toronto stocks edged modestly higher on Thursday as slightly firmer bullion helped gold miners, but with the US markets closed on Friday for the New Year's Day holiday, activity was down to a trickle "There's not much going on all week, let alone today," said John Kinsey, a portfolio manager at Caldwell Securities.

"Everybody's just trying to fix it all up for year-end to start fresh in the new year."

At midday, the Toronto Stock Exchange's S&P/TSX composite index climbed 15.90 points, or 0.17 percent, to 9,244.98. Volume was a meager 66 million shares worth C$675 million.

Seven of the TSX's ten main groups were higher.

"Financials are a little bit better, but again it's a bit spotty... At this time of year, everybody's mind is elsewhere. The only people that are really left to do their thing are the mutual funds, and they of course, are doing their quarter-end and year-end window-dressing," said Kinsey.

The financial group, the most heavily-weighted sector on the index, was up 0.29 percent. Royal Bank of Canada was up 49 Canadian cents, or 0.77 percent, at C$64.02.

Great-West Life rose 18 Canadian cents, or 0.68 percent, to C$26.68.

Gold mining stocks pushed higher as the precious metal price firmed. The group was up 0.32 percent.

Major gold producer, Barrick Gold gained 13 Canadian cents, or 0.45 percent, to C$28.98.

Tech issues fell 0.78 percent, with Descartes Systems Group Inc sliding 6 Canadian cents, or 2.52 percent, to C$2.32.

Celestica Inc declined 24 Canadian cents, or 1.41 percent, to C$16.81.

Copyright Reuters, 2005