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Financials and energy stocks weighed on North American indexes on Friday in midday trading, paring U.S. gains and sending Canada's S&P/TSX composite index into negative territory as investors awaited the results of a meeting among finance ministers discussing the European debt crisis.

At noon, the Dow Jones industrial average was up 31 points, or 0.3 per cent, to 11,464. The broader S&P 500 was up 2 points, or 0.2 per cent, to 1211.

Financials were the worst performers, falling 0.8 per cent and energy stocks fell 0.6 per cent as the price of crude oil hovered below $90 (U.S.) a barrel.

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However, utilities rose 1.2 per cent, consumer discretionary stocks rose 0.8 per cent and information technology stocks rose 0.6 per cent.

In Canada, the S&P/TSX composite index was down 45 points, or 0.4 per cent, to 12,380.

Research In Motion Ltd.'s sharp decline weighed on the information technology sector, which fell 10.5 per cent. Energy stocks fell 0.7 per cent and financials fell 0.3 per cent.

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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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