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Bay Street Likely To Open Higher

A steady trend in European markets and higher Canadian and U.S. futures point to a positive opening for Canadian shares on Thursday.

Energy shares are likely to move up, tracking higher crude oil prices.

Technology stocks may see sluggish moves after the U.S. declared a national emergency yesterday and prohibited U.S. companies from using telecom technology owned or directed by a foreign adversary. The move is widely seen as targeting Huawei.

Data on Canadian manufacturing sales for the month of March is due at 8:30 AM ET.

In U.S. economic news, reports on manufacturing shipments, Philly Fed's Manufacturing Index business conditions, building permits and initial jobless claims are due at 8:30 AM ET,

On Wednesday, the benchmark S&p/TSX Composite Index ended up 33.61 points, or 0.21%, at 16,318.14. The index, which dropped to a low of 16,229.69 in early trades, rose to 16,341.34 later on in the session.

In company news, ATS Automation Tooling Systems Inc. (ATA.TO) reported adjusted basic earnings of $0.26 per share for the fourth quarter ended March 2019, compared to $0.22 per share a year ago.

Polaris Infrastructure Inc. (PIF.TO) announced today that it has increased the size of its previously announced private placement of convertible debentures to $20,000,000.

Asian markets ended mixed on Thursday due to trade worries after U.S. President Donald Trump declared a national emergency over threats against American technology in a move seen as targeting Chinese tech giant Huawei.

European stocks are moving higher after a somewhat shaky start.

In economic news from Europe, France's unemployment rate declined in the first quarter to the lowest since 2009, figures from the statistical office Insee showed.

A report from Eurostat said the euro area trade surplus fell to a seasonally adjusted EUR 17.9 billion in March from EUR 20.6 billion in February. The surplus was below the forecast of EUR 19.4 billion.

In commodities, crude oil futures for June are up $0.77, or 1.25%, at $62.79 a barrel.

Gold futures for June are down $2.80, or 0.22%, at $1,295.00 an ounce.

Silver futures for July are declining $0.17, or 0.11%, at $14.795 an ounce, while Copper futures for July are up $0.0180, or 0.66%, at $2.7610 per pound.

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