May 11 (Reuters) - Toronto’s resource-heavy main stock index looked set to open lower on Wednesday following news that Chinese inflation eased in April, suggesting the world’s second-largest economy might be cooling.
* Canadian equity futures <0#SXF:> pointed to a lower open.
* U.S. stock index futures edged higher on Wednesday on follow-through after three days of gains on Wall Street as growth in China showed signs of cooling. [.N]
* European stocks edged higher by midday helped by upbeat earnings, which eclipsed ongoing worries that Greece may request another state bailout. [.EU]
* Most markets in Asia traded in positive territory, with the Nikkei up 0.5 percent, while Hang Seng was flat and Kospi rose 1.3 percent after a holiday on Tuesday.
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.57 percent in early trade.
* Oil prices fell, turning negative after earlier highs as the focus shifted from robust demand from China to signs that the world’s second-largest economy might be cooling. [O/R]
* Gold was headed for a fourth day of gains, while silver was on course for its strongest weekly performance in two years, driven by the prospects of greater demand from China and a softer dollar. [GOL/]
* Copper weakened after data from China suggested a cooling economy and potentially less demand from the world’s largest consumer, but analysts say growth is still strong. [MET/L]
* Enbridge Inc. (ENB.TO): The pipeline company, said on Wednesday its first-quarter profit rose, helped by stronger results in both its liquids and gas distribution businesses. [ID:nN10111847]
* Uranium One UUU.TO: The miner reported a first quarter profit on Wednesday, up from a year-ago loss, as the uranium miner boosted production and more than doubled sales. [ID:nN11150556]
* Gildan Activewear Inc. (GIL.TO): The clothing maker reported a higher quarterly profit, topping analyst estimates, as price increases and market share gains overshadowed a rise in raw material costs. [ID:nN11183992]
* Timmins Gold Corp TMM.TO: The miner posted a sequential rise in production at its San Francisco open pit gold mine in Mexico for yet another quarter.[ID:nL3E7GB28F]
* Boralex Inc. (BLX.TO): The power producer’s first-quarter profit rose nearly four fold, helped by an expansion in its installed wind power capacity and the acquisition of Boralex Power Income Fund. [ID:nL3E7GB2DW]
* Lundin Mining (LUN.TO): The company reported a 37 percent increase in its quarterly profit on Tuesday, as higher metal prices and increased production helped boost results at the diversified base metal miner. [ID:nN10293247]
* Keyera Corp (KEY.TO): The natural gas company’s first-quarter profit tripled, as it gained from increased activity at its gas plants and a ramp-up of oil sands developments in Alberta. [ID:nL3E7GA3QG]
* Atrium Innovations ATB.TO: The dietary supplement-maker posted a rise in its quarterly profit, helped mainly by strong overall demand for its branded products. [ID:nL3E7GA3ZW]
* Black Diamond Group (BDI.TO): The workforce equipment rental and energy services company reported first-quarter net income that more than doubled, driven by higher lodging and rental revenue. [ID:nL3E7GA3MY]
* Tekmira Pharmaceuticals TKM.TO: The company narrowed its first-quarter loss, helped by a rise in revenue from government contracts. [ID:nL3E7GA3NZ]
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]
* Foraco International SA (FAR.TO) price target raised to C$3 from C$2.60; rating sector performer at CIBC
* George Weston (WN.TO) price target raised to C$78 from C$77; rating sector performer at CIBC
* Gluskin Sheff Associates Inc (GS.TO) price target cut to C$21.50 from C$22.75; rating sector performer at CIBC
* Gran Tierra Energy (GTE.TO) price target cut to C$7.75 from C$8.25; rating sector performer at CIBC
* Pretium Resources Inc (PVG.TO) coverage started with buy rating; C$17 price target at Citigroup
* Rona Inc RON.TO price target cut to C$14 from C$15; rating sector performer at CIBC
* Trican Well Service Ltd (TCW.TO) price target raised to C$29 from C$25, rating outperform at RBC; price target raised to C$30 from C$29,rating sector outperformer at CIBC
$1= $0.95 Canadian Reporting by Kishan Nair; Editing by Jeffrey Hodgson