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Bay Street Likely To Open On Mixed Note

Canadian shares look headed for a mixed start Friday morning as investors are likely to stay cautious, looking ahead to news on the trade front and amid uncertainty about the Brexit deal getting the approval of the U.K. lawmakers.

Worries about global slowdown following recent reports from the U.S. and China are likely to weigh on sentiment.

Higher crude oil prices may trigger some buying in the energy space and push the market up. Activity is likely to be stock specific with earnings and other corporate news providing direction.

On Thursday, the benchmark S&P/TSX Composite Index ended flat at 16,426.30, after scaling a low of 16,400.54 and a high of 16,468.78 in the session.

In company news, Gildan Activewear (GIL.TO) has cut its 2019 guidance after warning that its third quarter results will be lower due to weaker demand for imprintable apparel. The company said it expects earnings will drop about 7% to 51 cents per share for the third quarter.

Corus Entertainment Inc. (CJR.B.TO) reported net income of $22.9 million or $0.11 per basic share for the third quarter ended August 2019, compared to net income of $156.1 million or $0.74 per basic share in the year-ago quarter.

Asian markets ended mostly lower on Friday, as disappointing Chinese data and uncertainty about final approval of the draft Brexit deal weighed on sentiment.

Data released by the National Bureau of Statistics said China's GDP grew 6% year-on-year in the third quarter after rising 6.2% in the second quarter. This was the slowest growth since early 1990s.

Industrial production grew 5.8% annually in September, well above an expected climb of 4.9%. Annual growth in retail sales were up 7.8% in line with expectations.

European stocks were mostly subdued as investors largely stayed wary of making significant moves due to weak GDP data from China and doubts about the merits of Boris Johnson's Brexit deal and uncertainty about the deal getting the approval of the British parliament.

In commodities, crude oil futures were rising $0.57, or 1.06%, at $54.50 a barrel.

Gold futures for December were declining $5.50, or 0.37%, at $1,492.80 an ounce.

Silver futures for December were lower by $0.102, or 0.58%, at $17.510 an ounce, while Copper futures for December were up $0.135, or 0.52%, at $2.6110 per pound.

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