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Canadian Shares Up In Positive Territory

Canadian shares were firmly in positive territory Wednesday morning amid slightly easing concerns about U.S.-China trade dispute and mild optimism about a solution to the Brexit issue.

Shares from consumer discretionary, information technology and industrials sections gained in strength and contributed significantly to market's uptick. A few stocks from consumer staples, financial and healthcare sections too posted notable gains.

Energy and materials shares turned in a mixed performance, despite firm commodity prices.

The benchmark S&P/TSX Composite Index was up 65.17 points, or 0.4%, at 16,359.12 about thirty minutes past noon.

In the consumer discretionary space, Dollarama Inc. (DOL.TO) gained 2.75% and BRP Inc. (DOO.TO) gained 2%. Mty Food Group (MTY.TO), Magna International (MG.TO), The Stars Group Inc. (TSGI.TO), Restaurant Brands International (QSR.TO) and Linamar Corp (LNR.TO) were up 1 to 2%.

Information technology shares Constellation Software (CSU.TO), Sierra Wireless (SW.TO), Enghouse Systems (ENGH.TO), Celestica Inc. (CLS.TO), Open Text Corporation (OTEX.TO) and CGI Group (GIB.A.TO) gained 1 to 2%.

Among the stocks in the Industrials Index, Ag Growth International (AFN.TO) and Ballard Power Systems (BLDP.TO) gained 5.6% and 4.7%, respectively. Air Canada (AC.TO), Richelieu Hardware (RCH.TO), New Flyer Industries (NFI.TO), Stantec (STN.TO), Aecon Group (ARE.TO), Tfi International (TFII.TO) and Snc-Lavalin Group (SNC.TO) were up 1.6 to 2.5%.

In trade news, China is reportedly open to reaching a partial trade deal with the U.S. despite the imposition of visa restrictions and blacklisting of Chinese artificial intelligence companies by the U.S.

An official with direct knowledge of the talks told Bloomberg that negotiators aren't optimistic about securing a broad agreement to end the U.S.-China war but said China would accept a limited deal as long as President Donald Trump does not impose any more tariffs.

In return, the official told Bloomberg, Beijing would offer non-core concessions like purchases of agricultural products without giving in on major sticking points.

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