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TSX Vaults at Open

INCLUDES BANK OF CANADA NEWS

Canada's main stock index opened higher on Wednesday, with energy stocks climbing the most, as investors awaited an interest rate decision by Bank of Canada.

The S&P/TSX Composite gained 107.68 to open Wednesday session at 16,506.91

The Canadian dollar gained 0.08 cents to 75.05 cents U.S.

TD Securities cut the target price Calfrac Well Services to $1.50 from $2.00. Calfrac shares moved up two cents, or 1.3%, to $1.59.

RBC raised the target price on Crescent Point Energy to $7.00 from $6.00. Crescent Point shares hiked 21 cents, or 4.7%, to $4.68.

National Bank of Canada cut the target price on Dirtt Environmental Solutions to $9.75 from $11.00. Dirtt shares swooned $1.39, or 20.5%, to $5.38.

As expected, the Bank of Canada left its trendsetting rate unchanged at 1.75%. The Bank Rate is correspondingly 2% and the deposit rate is 1.5%

Elsewhere on the economic front, Statistics Canada reported that imports rose 1.2% in July, while exports fell 0.9%. As a result, Canada's merchandise trade balance with the world went from an essentially balanced position in June to a $1.1-billion deficit in July.

ON BAYSTREET

The TSX Venture Exchange squeezed 0.99 points higher to 593.27

All but one of the 12 Toronto subgroups were positive in the first hour, as energy gushing 1.5%, while health-care and information technology each advancing 1.1%.

Gold moved downward 0.2% to start the session.

ON WALLSTREET

Stocks rose sharply on Wednesday as tensions in Hong Kong eased after the withdrawal of a controversial bill, easing tensions between the government and protesters.

The Dow Jones Industrial Average regained 155.65 points to 26,273.67

The S&P 500 recouped 21.04 points to 2,927.31

The NASDAQ Composite picked up 73.66 points to 7,974.82.

Navistar was among the firms reporting earnings Wednesday, and its stock hiked $1.69, or 7.7%, to $23.55.

Hong Kong leader Carrie Lam said that she will withdraw a contentious extradition bill that has sparked months of mass protests. The Hang Seng index in Hong Kong had soared around 4% on reports overnight that the withdrawal of the bill was imminent.

The bill’s withdrawal is seen as a positive because protest escalation was seen as a potential disruptor to the global economy. Some investors feared the protests could hinder U.S.-China trade talks

Prices for the benchmark 10-year U.S. Treasury faded, raising yields to 1.48% from Tuesday’s 1.47%. Treasury prices and yields move in opposite directions

Oil prices improved $1.70 to $55.64 U.S. a barrel.

Gold prices dropped $1.80 to $1,554.10 U.S. an ounce.