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Canadian shares are likely to open on a mixed note Wednesday morning with investors tracking a mixed trend in the commodities market and muted cues from Europe.

Worries about the surge in Omicron variant of the coronavirus, and a lack of positive triggers could result in sluggish movements for much of the day’s session.

Dye & Durham Limited (DND.TO) announced on Tuesday that it agreed to acquire Link Administration Holdings Limited. As part of the transaction, Dye & Durham will also indirectly acquire Link Group’s approximate 43% ownership stake in PEXA Group Limited, which operates Australia’s leading digital property exchange network.

The Canadian market ended on a buoyant note on Tuesday, led by strong gains in stocks from across several sectors as firm global markets, higher crude oil prices, encouraging retail sales data, and a report from Moderna Inc about the effectiveness of a booster dose of its Covid-19 vaccine against the Omicron variant lifted sentiment.

The benchmark S&P/TSX Composite Index, which opened with a big positive gap of about 180 points at 20,718.55, rallied to a high of 20,953.88 and finally ended the session with a gain of 386.65 points or 1.88% at 20,924.87.

Asian stocks closed higher on Wednesday after Wall Street’s main indexes ended sharply higher overnight, led by gains in tech and travel shares. The upside, however, was limited as a jump in coronavirus cases globally threatened economic activity, just days before Christmas and New Year holidays.

European stocks are a bit subdued a little past noon amid cautious moves by investors, who continue to closely follow the updates about the rapid spread of the Omicron variant and the various containment measures taken by governments across the world.

In commodities, West Texas Intermediate Crude oil futures are up marginally at $71.20 a barrel.

Gold futures are gaining $4.30 or 0.25% at $1,793.00 an ounce, while Silver futures are up $0.136 or 0.6% at $22.665 an ounce.

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