April 30 (Reuters) - Canada’s main stock index looked set open lower as commodity prices slipped, but hopes for further monetary stimulus from the Federal Reserve, which starts its two-day monetary policy meeting later in the day, and the European Central Bank could provide support.
* Inflation in the euro zone has fallen to a three-year low and unemployment hit a new record, cementing expectations of an interest rate cut by the European Central Bank later this week.
* BP Plc profits beat analyst expectations by almost $1 billion in the first quarter, helped by two new oilfields and a strong performance from its trading division.
* Thomson Reuters Corp reported a 7 percent decline in first-quarter operating profit because of severance costs and a decrease in revenue at its Financial & Risk division, which caters to banking clients.
* Suncor Energy Inc first-quarter operating profit beat analyst expectations, boosted by higher oil sands production and better profitability in refining and marketing.
* State-backed Lloyds Banking Group reported a jump in first-quarter profits on the back of improved margins and lower costs, and raised the amount it expects to save from shrinking the bank.
* Canada stock futures traded down 0.55 percent
* U.S. stock futures , , were around -0.03 percent to 0.13 percent
* European shares, were up
* Thomson Reuters-Jefferies CRB Index : 289.2135; fell 0.26 percent
* Gold futures : $1,473.5; rose 0.42 percent
* US crude : $93.83; fell 0.71 percent
* Brent crude : $103.32; fell 0.47 percent
* LME 3-month copper : $7,062.5; fell 1.27 percent
* Loblaw Cos Ltd : The company on Monday became the second Western fashion retailer to promise compensation for the families of victims of the Bangladesh garment factory collapse that killed nearly 400 people last week.
Following is a summary of research actions on Canadian companies reported by Reuters.
* Capstone Mining : National Bank Financial cuts target to C$2.75 from C$3 following the company’s high-priced acquisition of Pinto Valley from BHP Billiton.
* Constellation Software : National Bank Financial raises target to C$150 from C$125 citing higher earnings growth in anticipation of more M&A activity in 2014.
* Mullen Group : National Bank Financial starts with sector perform with target price of C$23.50 on valuation and EBITDA estimates, believes shares look reasonably valued in the near term though there is significant longer-term upside.
* TMX Group : CIBC cuts price target to C$54 from C$59 citing lowered earnings estimates, says struggling resource sector is a headwind for the company.
* Major Canadian economic data includes growth and producer prices data
* Major U.S. events and data includes employment costs, Redbook and Chicago PMI