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Bay Street Likely To See Mixed Opening

Canadian shares look headed for a mixed start on Wednesday. While optimism about earnings may prompt investors to pick up stocks, lower commodity prices and concerns about global growth could render the mood cautious.

At 8:30 AM ET, Statistics Canada is scheduled to release data on new home prices.

Data on U.S. initial jobless claims and producer prices are also due at 8:30 AM ET.

On Wednesday, the benchmark S&P/TSX Composite Index ended up 59.84 points, or 0.37%, at 16,396.29. The index scaled a low of 16,368.00 and a high of 16,409.77 in the session.

In company news, MTY Food Group Inc. (MTY.TO) and Papa Murphy's Holdings, Inc. (NASDAQ: FRSH) today announced they have entered into a definitive merger agreement under which MTY would acquire all of the issued and outstanding shares of common stock of Papa Murphy's for cash consideration of US$6.45 per share, representing total transaction value of approximately US$190.0 million.

MTY also announced that its net income for the first quarter of 2019 decreased to $14.7 million, or $0.59 per share, when compared to $44.3 million, or $2.07 per share, for the same period last year.

TELUS Corporation (T.TO) announced on Wednesday that it has acquired new 600 MHz spectrum licences in B.C., Alberta, Saskatchewan, Ontario and Quebec at a cost of $931 million.

Asian markets ended mixed on Thursday with investors not showing any keen interest in picking up stocks due to growth concerns.

European stocks are drifting lower amid rising concerns about global growth.

On the Brexit front, the European Union officials have given the U.K. a "flexible" six-month extension to the Brexit deadline.

In commodities, crude oil futures for May are down $0.56, or 0.97%, at $64.05 a barrel.

Gold futures for June are declining $9.30, or 0.71%, at $1,304.60 an ounce.

Silver futures for May are down $0.204, or 1.34%, at $15.040 an ounce, while Copper futures for May are down $0.0175, or 0.6%, at $2.908 per pound.

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