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Bay Street Likely To Open On Positive Note

Canadian shares appear set to open on a positive note on Friday, tracking cues from global markets, where stocks gained in strength thanks to the European Central Bank's stimulus package and easing worries about U.S.-China trade dispute.

Sluggish crude oil prices may dampen sentiment a bit.

On Thursday, the benchmark S&P/TSX Composite Index hit a new all-time high at 16,696.40 and ended the session with gain of 32.14 points, or 0.19%, at 16,643.28.

In company news, Kinaxis Inc. (KXS.TO) announced that Honda has selected the company to streamline its supply chain planning and response process for its automobile business in Japan.

Bio pharmaceutical company Avicanna (AVCN.TO) said it has entered into an exclusive research agreement with the University of Guelph for Proprietary Cannabinoid-based Products and Formulations to Treat Psychiatric Disorders.

Asian markets ended mostly higher on Friday as investors cheered positive developments on the U.S.-China trade front and the European Central Bank's announcement of a stimulus package that included a package of bond purchases and interest rate cut.

European stocks were moving higher, continuing to benefit from the ECB's decision to cut interest rates for the first time in three years and the unveiling of a sweeping stimulus package aimed at reviving euro area economic growth.

In commodities, crude oil futures for October were up slightly at $55.17 a barrel.

Gold futures for December were rising $7.40, or 0.5%, at $1,514.80 an ounce.

Silver futures for December were gaining $0.58, or 0.32%, at $18.235 an ounce, while Copper futures for December were up $0.0350, or 1.33%, at $2.6755 per pound.

On the U.S.-China trade front, China has reportedly said it will encourage companies to buy U.S. farm products, including soybeans and pork and that it will exempt these commodities from additional tariffs.

Officials from the world's two largest economies are expected to meet next week to discuss trade related issues.

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