Investor Alert

Nov. 7, 2011, 10:23 a.m. EST

Canadian stocks hesitate on Italy concerns

SAN FRANCISCO (MarketWatch) -- Canadian stocks tiptoed higher on Monday as investors were sidelined by fears of euro-zone debt contagion spreading to Italy. At last check, the benchmark S&P/TSX Composite Index was up 42.13 points, or 0.4%, to 12,450.38. The uncertainty surrounding Italy lifted the safe-haven appeal of gold, as Goldcorp Inc. (TSE:CA:G) shares added 2.4%. Shares of Silvercorp Metals Inc. (TSE:CA:SVM) picked up 2.9% ahead of its quarterly earnings release on Tuesday. Among decliners, base metals stocks edged down on lower copper prices, with shares of Ivanhoe Mines Ltd. (TSE:CA:IVN) dropping 3.9%. The Canadian dollar appreciated against its U.S. counterpart , as one U.S. dollar recently purchased 1.0135 Canadian, versus 1.0171 late Friday.

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