Investor Alert

Aug. 8, 2012, 10:59 a.m. EDT

Canadian stocks inch higher as RIM, BCE rally

SAN FRANCISCO (MarketWatch) -- Canadian stocks edged a little higher Wednesday, with the S&P/TSX rising 8 points, or 0.07%, to 11,871. A 1.1% climb in the telecom sector (TORONTO:XX:TORGC198) supported the market, followed by the materials sector (TORONTO:XX:TORGC195) and information technology sector (TORONTO:XX:TORGC194) , each adding about 0.6%. Leading telecom equities, BlackBerry maker Research in Motion advanced 5.2%, while BCE Inc. (TSE:CA:BCE) , the nation's largest telecom company, rose 3.3% after posting strong second-quarter results and raising its full-year earnings forecast and dividend payout. Class B shares of Air Canada stumbled 7% after it reported it had more than doubled its second-quarter loss, from a year ago. Climbing a little, the Canadian dollar remained near parity against the greenback (XTUP:USDCAD) , with one U.S. dollar purchasing C$0.9960 vs. C$0.9969 Tuesday.

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