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Canadian stocks rise, led by materials producers

Canadian stocks rose, led by raw-materials and energy producers, after China said it will get more involved in a solution to Europe’s debt crisis and the U.S. reported a decline in crude oil inventories.

“Materials, metals and mining — we get some more positive news out of Europe, that’s the place that’s going to be the biggest beneficiary,” Robert “Hap” Sneddon, president of Oakville, Ontario-based money manager CastleMoore Inc. and president of the Canadian Society of Technical Analysts, said in a telephone interview. “People are getting their chips down now.”

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