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Bay Street Seen Opening On Mixed Note

Canadian shares look headed for a somewhat mixed start on Monday, with investors tracking higher crude oil prices and reacting to reports raising doubts about any smooth progress from fresh trade talks between U.S. and Chinese officials.

According to a report in Bloomberg, Chinese officials were reluctant to agree to U.S. President Donald Trump's broad trade deal. This has raised uncertainty about progress in the talks between the two countries set to resume on Thursday.

On Friday, the benchmark S&P/TSX Composite Index ended up 80.32 points, or 0.49%, at 16,449.35, slightly off the day's high of 16,452.18. The index, however, lost 1.46% last week.

In company news, SNC-Lavalin Inc. (SNC.TO) today announced it has been awarded a three-year provision of operations and maintenance workforce contract from Shell Australia for its QGC upstream asset located in Queensland, Eastern Australia.

CWB Franchise Finance, a division of CWB Financial Group, has partnered with Sterling Group to provide a debt refinance, renovation financing and a revolving line of credit. Sterling Group owns 22 properties across Canada and the U.S., 17 of which are internationally branded hotels, including Marriot, Wyndham and Choice.

Asian stocks ended mixed in cautious trading on Monday as investors digested fairly decent monthly jobs data from the U.S. and looked forward to the next round of high-level U.S.-China trade negotiations slated to happen in Washington this week. Markets in China and Hong Kong were closed for public holidays.

After a cautious start, the major European markets were edging higher with investors looking ahead to the resumption of U.S.-China trade talks. Markets were also tracking the developments on the Brexit front. French President Macron said the U.K. will have to demonstrate it has a workable Brexit plan before the end of the week.

Investors were also digesting data from Germany showing a bigger than expected drop in German industrial orders in the month of August, and a report showing a drop in Eurozone investor confidence in October.

In commodities, crude oil futures for November were gaining $0.62, or 1.17%, at $53.43 a barrel.

Gold futures for December were down $7.80, or 0.52%, at $1,505.10 an ounce.

Silver futures for December were declining $0.090, or 0.51%, at $17.535 an ounce, while Copper futures for December were down $0.0030, or 0.12%, at $2.5585 per pound.

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