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Bay Street Seen Opening Higher

Canadian shares look headed for a positive start on Wednesday, tracking firm European stocks and easing concerns about U.S.-China trade talks and Brexit. Higher crude oil and gold prices are also likely to support the market.

According to reports, China is open to signing a partial trade deal despite the U.S. blacklisting several Chinese artificial intelligence companies and imposing visa restrictions.

It is also reported that China might offer to increase purchases of agricultural products from the U.S.

On Tuesday, the benchmark S&P/TSX Composite Index ended down 127.80 points, or 0.78%, at 16,293.95.

Asian markets ended mostly lower on Wednesday on fading hopes for a resolution to the U.S.-China trade dispute after the Trump administration imposed visa restrictions on Chinese officials and also expanded its trade blacklist to include some of China's top artificial intelligence firms.

European markets rebounded after the British government signaled that it intends to bring a revised Brexit deal back to Parliament. According to reports, the EU is ready to make a major concession on a Brexit deal by providing a mechanism for the Northern Irish assembly to leave a new Irish backdrop after a set number of years.

In commodities, crude oil futures for November were up $0.55, or 1.03%, at 53.17 a barrel.

Gold futures for December were gaining $4.80, or 0.32%, at 1,509.10 an ounce, while
Silver futures for December were up $0.180, or 1.02%, at $17.880 an ounce.

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