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July 19 (Reuters) - Toronto's main stock index looked set to open higher on Thursday, tracking global markets, as strong earnings from some global bellwether companies allayed fears of the economic slowdown biting into profits.
* IBM raised its full-year earnings target, even as it posted a quarterly revenue shortfall, reflecting its ability to manage costs as global technology spending sputters.
* Canada's oil and gas explorer Nexen Inc's second-quarter profit fell 57 percent as it took a charge on a failed exploration well in the Gulf of Mexico.
* Spain's five-year borrowing costs hit new euro-era highs at an auction, sending the euro lower, as it struggles to convince investors it can control its finances, while France sold bonds of similar maturities at yields below 1 percent.
* Canadian trucking company Vitran Corp posted a wider second-quarter loss on weakness in its less-than- truckload (LTL) shipping business in the United States.
* Nokia made a slightly smaller loss than expected and ended the second quarter with more cash than investors feared, despite losing market share to Apple and Samsung Electronics.
* Canada stock futures traded up 0.68 percent
* U.S. stock futures , , were up around 0.42 percent
* European shares, were up
* Thomson Reuters-Jefferies CRB Index : 301.57; rose 0.83 percent
* Gold futures : $1,581.8; rose 0.73 percent
* US crude : $91.16; rose 1.44 percent
* Brent crude : $107.08; rose 1.83 percent
* LME 3-month copper : $7,798; rose 2.11 percent
Following is a summary of research actions on Canadian companies reported by Reuters.
* Cogeco Cable : NBF cuts price target to C$40 from C$51 and downgrades to sector perform from outperform, Canaccord Genuity cuts price target to C$42 from C$55 and downgrades to hold from buy, on its plan to acquire Atlantic Broadband
* Colabor : NBF raises price target to C$8 from C$7.50 and rates sector perform, after it reported second quarter results in line with the expectations
* Mainstreet Equity : Canaccord Genuity ups target to C$34.50 from C$29 and rates buy, after it reported better-than-expected third quarter results
* Major Canadian economic data include wholesale trade data
* Major U.S. events and data includes initial claims, lead indicator and existing home sales data