March 21 (Reuters) - Toronto’s resource heavy index looked set to open higher on Wednesday with equities set to bounce back from the Tuesday’s pull-back as investors bet U.S. housing data will give further evidence of economic recovery.
* Canadian equity futures pointed to a higher open.
* U.S. stock index futures rose ahead of data on the housing market after the S&P 500 snapped a three-day winning streak in the prior session.
* European shares edged higher led by retailer Sainsbury, breaking a two-day downtrend as investors positioned for upbeat U.S. housing data in the hope it will provide further evidence of economic recovery.
* The Thomson Reuters-Jefferies CRB index, a global commodities benchmark, rose 0.17 percent in early trade.
* Brent crude oil rose as a surprise drawdown in U.S. stocks offset efforts by Saudi Arabia to lower prices by promising to ramp up supply if needed.
* Gold prices edged higher after dropping nearly 1 percent in the previous session, as a slightly weaker dollar came to the aid of buyers, while sluggish physical demand and an improving U.S. economic outlook capped gains.
* Copper steadied on Wednesday as support from a weaker dollar and a budding economic recovery in the United States offset worries about slower growth in China’s demand for commodities.
* Thomson Reuters Corp. : The news and information company has resumed an auction of its healthcare unit after shelving the process last year due to tough market conditions, sources familiar with the situation said.
* Miranda Technologies Inc. : The television broadcast technology provider said it will continue to talk to potential partners, after several expressions of interests failed to lead to a transaction in the last 12 months.
* Martinrea International Inc. : The auto parts maker posted a rise in quarterly profit, as its customers ramped up prodution of light vehicles in North America.
* Pacific Wildcat Resources : The minerals and metals firm has said it will drill this year at a new site in Kenya that has shown potential for rare earth deposits.
* Air Canada : The company that services planes for Air Canada ceased Canadian operations and fired its workers on Tuesday, a new headache for an airline already facing arbitration over two labor disputes.
Following is a summary of research actions on Canadian companies reported by Reuters.
* Pretium Resources : Citigroup raises price target to C$22 from C$17, rating buy
* Raging River : Canaccord genuity starts with a buy rating
* Student Transportation : National bank financial resumes coverage with outperform
* WestFire Energy Ltd. : CIBC raises to sector performer from sector underperformer