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Bay Street Likely To Open Higher

Canadian shares look headed for a positive opening on Tuesday, tracking gains in Europe, where stocks are up, riding on a temporary reprieve granted to Huawei by the Trump administration.

Higher crude oil prices amid an escalation in tensions in the Middle East may push up prices of energy stocks.

Technology stocks may see some buying.

On Monday, the benchmark S&P/TSX Composite Index ended down 42.11 points, or 0.26%, at 16,401.75.

Asian markets turned in a mixed performance on Tuesday with investors largely staying cautious due to U.S.-China trade concerns.

European markets are moving higher, rebounding strongly after the U.S. government eased some restrictions on Chinese telecommunications major Huawei.

In commodities, crude oil futures for June are up $0.30, or 0.47%, at $63.40 a barrel.

Gold futures for June are declining $6.50, or 0.51%, at $1,270.80 an ounce.

Silver futures for July are down $0.070, or 0.48%, at $14.375 an ounce.

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