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Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Thursday morning with investors reacting to commodity prices, updates on coronavirus infections and vaccine news, and looking ahead to US President elect Joe Biden's announcement about a new stimulus proposal.

Energy and materials shares dragged down the Canadian market to a negative close on Wednesday. The benchmark S&P/TSX Composite Index ended with a loss of 51.06 points or 0.28% at 17,934.74, after scaling a low of 17,897.17 and a high of 18,009.98 in the session.

Aphria Inc. (APHA.TO) reported net loss of $120,598 for the quarter ended November 2020, compared to net loss of $7,929 a year ago. Adjusted net income for the latest quarter was $3,219, as against net loss of $48,753 in the year-ago quarter.

Asian stocks closed mostly higher on Thursday as positive Chinese trade data aided sentiment. Investors looked past the impeachment of U.S. President Donald Trump and hoped for a new fiscal stimulus from Biden Administration.

European stocks are up in positive territory as positive Chinese trade data and hopes of a large stimulus under the Biden administration outweigh concerns over rising coronavirus infections and lockdowns. Data showing a deep German economic recession is weighing a bit and limiting markets' upside.

In commodities, West Texas International Crude oil future are down $0.14 or 0.25% at $52.77 a barrel.

Gold futures are sliding $13.30 or 0.72% at $1,841.60, while Silver futures are down $0.267 or 1.04% at $25.310 an ounce.

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