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Canadian stocks rose slightly at the start of trading on Monday, though there is a sense that investors remain cautious with U.S. markets closed for Memorial day.

The S&P/TSX composite index rose 42 points or 0.4 per cent, to 11,713.

Energy stocks showed the biggest gains after the price of oil edged toward $75 (U.S.) a barrel. Suncor Energy Inc. rose 0.6 per cent and Canadian Oil Sands Trust rose 0.7 per cent.

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The Big Banks took another small step back though, continuing a period of softness that began last week when Royal Bank of Canada and Canadian Imperial Bank of Commerce released disappointing second quarter results. Royal Bank and Bank of Nova Scotia both fell 0.2 per cent.

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