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Shares Flat to Begin Midweek Session

Stocks in Canada's largest centre began Wednesday virtually unchanged, on weakness in resource sectors.

The S&P/TSX faltered 7.81 points to begin Wednesday at 16,790.52

The Canadian dollar shed 0.19 cents at 75.34 cents U.S.

Lithium Americas has cut its budget and production target for a proposed Nevada mine amidst growing concern of a global supply glut for the white metal, a key ingredient used to make electric vehicle batteries. Lithium shares gathered a penny to $4.15

Enbridge said on Tuesday it had received a permit from the U.S. Army Corps of Engineers to install 54 steel supports along its underwater Line 5 pipeline in Michigan's Straits of Mackinac. Enbridge shares picked up two cents to $46.88.

CIBC initiated coverage of Torex Gold Resources with neutral rating and price target of $20.50. Shares in Torex fell back 24 cents, or 1.3%, to $18.11.

BMO cut the target price on Canadian Pacific Railway to $330 from $335. CP shares doffed $4.16, or 1.4%, to $296.25

BMO raised the target price Trisura Group to $34.00 from $32.00. Trisura shares lost seven cents to $29.23.

ON BAYSTREET

The TSX Venture Exchange let go of 0.87 points to 582.57

Seven of the 12 Toronto subgroups were positive in Wednesday's first hour, as health-care galloped 0.9%, consumer discretionary stocks prospered 0.5%, and real-estate moved up 0.3%.

The five laggards were co-weighed by information technology, gold and materials, down 0.7% each.

ON WALLSTREET

Stocks were little changed on Wednesday as Wall Street digested House Speaker Nancy Pelosi saying she will launch a formal impeachment inquiry on President Donald Trump.

The Dow Jones Industrials gained 17.78 points to 26,825.55

The S&P 500 dropped 5.68 points to 2,960.92,

The NASDAQ Composite slumped 118.83 points, or 1.5%, to 7,993.63

Nike shares were among the biggest contributors to the Dow's slight gains. The shoe maker's stock jumped 5% on better-than-expected quarterly results. CEO Mark Parker said a stronger e-commerce business and products such as the new Joyride running shoe lifted the Nike's results.

Pelosi's announcement follows a call in which Trump allegedly pressured Ukrainian President Volodymyr Zelensky to investigate former Vice President Joe Biden's family. Trump has admitted to bringing up Biden on the call — tweeting he will release a transcript of it — but denies pressuring Zelensky.

The call is believed to be part of an intelligence community whistleblower complaint Democrats have asked the administration to release. They say the complaint would hold details not available in the call's transcript.

Prices for the benchmark 10-year U.S. Treasury were unchanged, keeping yields at Tuesday's 1.66%.

Oil prices sank $1.53 to $55.76 U.S. a barrel.

Gold prices lost $4.10 to $1,536.10 U.S. an ounce.

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