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Stocks moved higher in midday trading on Monday, after European leaders assured markets that they will find a solution to the Greek debt crisis - marking a shift from earlier reports that had highlighted divisions among leaders.

At noon, the Dow Jones industrial average was up 89 points or 0.7 per cent, to 12,093. The broader S&P 500 was up 8 points or 0.6 per cent, to 1,279.

All 10 subindexes within the S&P 500 were higher, reflecting broad-based gains. Consumer discretionary stocks, health care stocks and consumer staples rose about 0.9 per cent each. Information technology lagged, with gains of 0.3 per cent, while utilities and financials rose 0.4 per cent each.

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In Canada, the S&P/TSX composite index was up 41 points or 0.3 per cent, to 12,831.

Telecom services showed the biggest gains, rising 1.4 per cent. Consumer staples and industrials rose 0.8 per cent each, while financials rose 0.5 per cent.

Information technology fell 2 per cent, after Research In Motion Ltd. continued to decline following last week's sharp selloff. Energy stocks fell 0.1 per cent after the price of crude oil dipped below $93 (U.S.) a barrel.

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About the Author
Investing Reporter

David Berman has been writing about business and investing since 1995. He has written for a number of magazines, including Canadian Business and MoneySense. He worked at the Financial Post as an investing writer and daily columnist before moving to the Globe and Mail in 2008. More

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