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Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note on Friday, with investors tracking employment data from Canada and the U.S.

Slightly positive lead from Asian and European markets amid mild optimism about a U.S.-China trade phase one trade deal may help lift sentiment. Weaker crude oil prices may weigh on energy shares.

On Thursday, the benchmark S&P/TSX Composite Index ended down 42.42 points, or 0.25%, at 16,854.92, off the day's low of 16,816.97.

In company news, Roots Corporation (ROOT.TO) said it posted a net income of $1.97 million, or five cents per share in the quarter ending November 2, down from $2.8 million or seven cents per share for the same quarter last year.

Australian company Newcrest Mining has today acquired a further 10,977,502 common shares of Lundin Gold Inc. (representing 4.9% of the outstanding common shares) from Kinross Gold Corporation for C$7.25 per share, or C$79.6 million in the aggregate, at a 4.2% discount to last trade price.

Asian markets ended mostly higher on Friday amid optimism the U.S. and China will be able to arrive at a phase one trade agreement prior to December 15th, when a new round of U.S. tariffs on Chinese imports will take effect.

European stocks are higher amid optimism about a phase one trade deal between the U.S. and China. Investors largely shrugged off data from Germany showing that industrial production in the region's largest economy declined unexpectedly in October.

In commodities, crude oil futures for January are down $0.17, or 0.29%, at $58.26 a barrel.

Gold futures for February are down $3.00, or 0.2%, at $1,480.10 an ounce.

Silver futures for March are declining $0.064, or 0.38%, at $16.995 an ounce, while Copper futures for March are gaining $0.0075, or 0.28%, at $2.6705 per pound.

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