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Bay Street Seen Opening Higher

Higher U.S. and Canadian futures and rising European markets point to a positive start for Canadian shares Friday morning. Higher crude oil prices are likely to support as well.

Lingering worries about U.S.-China trade dispute and growth concerns may limit market's upside.

On Thursday, the benchmark S&P/TSX Composite Index ended down 33.41 points or 0.2% at 16,012.53, the lowest closing level in five months.

In company news, CannTrust Holdings (TRST.TO) said on Thursday that the sale of a substantial part of its stock of marijuana and around a quarter of its plants had been suspended after the discovery of unlicensed cultivation at its facilities.

Asian markets ended mixed on Friday, tracking falling U.S. treasury yields and on conflicting messages on the Sino-U.S. trade war.

While U.S. President Donald Trump said the U.S. is having very good discussions with China and the trade disput would be fairly short, Beijing vowed to counter the latest tariffs on $300 billion of Chinese goods but called on the United States to meet it halfway on a potential trade deal.

European stocks were eding higher, rebounding on hopes the central banks will announce further stimulus to support economic growth.

In economic news from Europe, data from Eurostat showed the euro area trade surplus fell to a seasonally adjusted EUR 17.9 billion in June from EUR 19.6 billion in May. In June last year, trade surplus totaled EUR 12.5 billion.

In commodities, crude oil futures for September were up $0.26, or 0.47%, at $54.73 a barrel.

Gold futures for December were declining $7.00, or 0.47%, at $1,524.20 an ounce.

Silver futures for September were down $0.044, or 0.26%, at $17.170 an ounce, while Copper futures for September were down $0.0065, or 0.25%, at $2.5885 per pound.

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