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Bay Street Likely To Open On Positive Note

Slightly higher futures point to a positive opening for Canadian shares on Wednesday. Investors will also be reacting to Canadian consumer price inflation data for March and trade report for the month of February, both due at 8:30 AM ET.

On Tuesday, the benchmark S&P/TSX Composite Index ended down 13.26 points, or 0.08%, at 16,502.20, slightly off the day's low of 16,498.59. The index climbed to 16,553.39 earlier in the day, and looked on course for a record high.

In company news, Chorus Aviation Inc. (CHR.TO) announced today that Chorus Aviation Capital has entered into agreements to deliver five new Bombardier Q400 aircraft to SpiceJet of India under a sale and leaseback transaction.

Cineplex Inc. (CGX.TO) has announced cash dividend of $0.145 per share for the month of April 2019 payable on May 31, 2019 to shareholders of record on April 30, 2019.

Metro Inc. (MRU.TO) reported adjusted net earnings of $155.1 million for the second quarter of 2019, compared with $108.1 million for the corresponding quarter of fiscal 2018.

Asian markets ended mixed on Wednesday with investors largely staying cautious despite upbeat Chinese economic data.

Chinese GDP grew an annual 6.4% in the first quarter of 2019, unchanged from the fourth quarter and beating forecasts for a 6.3% growth.

Retail sales in China climbed 8.7% year-on-year in March - beating expectations for an increase of 8.4% and up from 8.2% in February.

European stocks are turning in a mixed performance with disappointing quarterly updates from U.S. technology majors IBM and Netflix outweighing positive GDP and retails data from China.

In economic releases, Eurozone headline inflation slowed in March and core price growth eased to its lowest level in a year, as initially estimated, latest data from Eurostat confirmed.

Separately, Eurozone trade surplus increased in February to its highest level in nearly a year, according to another report from Eurostat.

In the U.K., consumer price inflation was unchanged in March, with the index rising 1.9% year-on-year, defying expectations for a modest acceleration.

Meanwhile, house price inflation eased sharply to 0.6% in February, which was the lowest rate since September 2012.

In commodities, crude oil futures for May are gaining $0.35, or 0.55%, at $64.40 a barrel.

Gold futures for June are up $1.70, or 0.13%, at $1,278.90 an ounce.

Silver futures for May are gaining $0.045, or 0.3%, at $14.960 an ounce, while Copper futures for May are up $0.0355, or 1.21%, at $2.9660 per pound.

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