(RTTNews) - Toronto stocks are slightly lower on Monday but have recovered most of an early slide. The market recovered following the release of some encouraging economic news from across the border.

The S&P/TSX Composite Index has lost 11.57 points or 0.1% to 10,899.74. The index dropped 1.5% in the previous session.

Technology stocks are down 2%. Research in Motion (RIM.TO) has dropped 6.75% after seeing its rating cut to Sell from Buy at Citigroup.

On the upside, gold stocks have added 1.8% and materials are up 1.2% as the precious metal has rallied on the Comex. Agnico-Eagle Mines (AEM.TO) has gained 3.7% and Goldcorp (G.TO) is up 2.5%.

Iamgold (IMG.TO) has added 1.7% after the company announced the Societe D’Exploitation Des Mines D’Or De Sadiola, owner of the Sadiola Gold Mine in Mali, West Africa, board approval to proceed with the US$9 million Sadiola Deep Sulphide Feasibility Study.

In corporate news, Domtar (UFS.TO) has rallied 6.2% after the stock was upgraded to Overweight from Neutral at JPMorgan Chase.

Air Canada (AC.B.TO) has rallied 6.8% after the stock was upgraded to Buy from Hold at Genuity Capital Markets.

Cameco (CCO.TO) has dropped 1.6% after announcing adjusted third quarter earnings declined to C$104 million, or C$0.26 per share, from C$127 million, or C$0.37 per share, in the year-ago quarter.

ATCO Ltd. (ACO-X.TO) has added 1.4% after the company reported earnings of C$61.0 million or C$1.05 per share for the third quarter, compared to C$52.5 million or C$0.91 per share in the prior year quarter.

In economic news from the US, the Institute for Supply Management manufacturing index rose to 55.7 in October from 52.6 in September. Economists had been expecting a reading of 53.0.

The Commerce Department revealed that construction spending rose 0.8 percent in September. This followed a 0.1 percent decline in August.

The National Association of Realtors announced the pending home sales index unexpectedly rose 6.1 percent to 110.1 in September from a reading of 103.8 in August.

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Posted in Categories: Canada, Economy, Releases, USA.

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