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Bay Street Likely To Open Higher

Canadian shares look headed for a positive opening on Tuesday, tracking gains in European markets and on higher commodity prices.

Somewhat positive news on border wall funding front and optimism about U.S.-China trade talks are also likely to aid sentiment.

On Monday, the benchmark S&P/TSX Composite Index ended down 64.48 points, or 0.41%, at 15,568.85. The index, which advanced to 15,660.52 in early trades, declined to a low of 15,545.94 later in the session.

In company news, Aurora Cannabis Inc. (ACB.TO) reported net revenue of $54.2 million for the second quarter ended December 2018, up 83% sequentially, and up 363% compared to the same period in the previous year.

Aurora's loss attributable to common shareholders in the second quarter equalled $237.7 million or 25 cents per diluted share, compared with a profit of $7.7 million or two cents per share a year earlier.

SEMAFO Inc. (SMF.TO) and Savary Gold Corp. (SCA.TSXV) announced that they have entered into a non-binding letter of intent contemplating the acquisition by SEMAFO of all of the outstanding common shares of Savary not already owned by SEMAFO.

ADF GROUP INC. (DRX.TO) announced it has bagged a series of new contracts worth a total of $73 million, in the recreational and commercial sectors in Western USA.

DHX Media Ltd. (DHX.TO) reported second quarter net loss of $17.9 million, or $0.13 per share, as compared to net income of $7.4 million, or $0.06 per share, in the year-ago quarter.

Asian markets ended mostly higher on Tuesday amid mild optimism about U.S.-China trade talks and on news that U.S. congressional negotiators reached an agreement in principle to fund the government and avoid another shutdown ahead of a Friday midnight deadline.

European stocks were rising as well, with investors betting on hopes the U.S. and China will strike a deal sometime soon. Some positive news on border wall funding too aided sentiment.

In commodities, crude oil futures for March were rising $1.06, or 2%, at $53.47 a barrel.

Gold futures for April were gaining $4.50, or 0.34%, at $1,316.40 an ounce.

Silver futures for March were up $0.095, or 0.61%, at $15.785 an ounce, while Copper futures for March were declining $0.0145, or 0.5%, at $2.7755 per pound.

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