July 19 (Reuters) - Toronto's resource-heavy main stock index looked set to open higher on Tuesday, supported by stronger commodity prices, as investors paused from their selloff of riskier assets triggered by the U.S. and European debt crises.
Investors will also be watching the 9 a.m. (1300 GMT) interest rate announcement by the Bank of Canada. The central bank is unanimously expected to leave its overnight target rate unchanged on Tuesday at 1 percent.
* Canadian equity futures <0#SXF:> pointed to a higher open.
* U.S. stock index futures rose, indicating a rebound from a selloff in the previous session as strong results from IBM encouraged investors worried about macroeconomic uncertainties. [.N]
* European shares rose, with forecast-beating earnings lifting some companies, tech shares gaining after an upbeat statement from IBM and banks recouping some ground lost in the previous session's steep fall. [.EU]
* Markets in Asia were largely low but Hong Kong shares ended up helped by a late recovery in oil stocks, although a seasonal trading lull may keep prices range bound in the near term.
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.65 percent in early trade.
* Oil rose, lifted by expectations that data would show inventories in the world's top consumer fell for a seventh week and supported by dollar weakness. [O/R]
* Gold prices eased a touch after earlier hitting record highs, as a rebound in assets seen as higher risk, such as shares and the euro, took some of the heat out of appetite for safe havens. [GOL/]
* Copper hit its highest since mid-April as a weaker dollar and hopes Chinese demand will remain firm helped offset investor anxiety over U.S. and European sovereign debt concerns. [MET/L]
* Lake Shore Gold Corp. LSG.TO: The gold miner said second-quarter production will be lower than its earlier estimates due to a change in mining sequence at its Timmins mine in northern Ontario, and lowered its full-year production target. [ID:nL3E7IJ1S5]
* First Quantum Minerals (FM.TO): The miner will list its shares in Zambia on Wednesday, its brokers said, becoming the first miner in Africa's top copper producer to list locally. [ID:nL6E7IJ0G7]
* Daylight Energy Ltd. DAY.TO: The oil and gas explorer said second-quarter output was slightly higher than its expectations, driven by production from a second well in the liquids-rich Montney zone. [ID:nL3E7II3BO]
* TMX Group (X.TO): Maple Group Acquisition Corp, a consortium of Canadian banks and pension funds that has bid for the Toronto Stock Exchange operator said Canada's Competition Bureau is seeking more information to complete its review of the proposed deal. [ID:nL3E7II3A4]
* Chinook Energy Inc. CKE.TO: The oil and natural gas explorer said it struck oil at the Doig exploration well in Red Creek area of northeastern British Columbia. [ID:nL3E7II371]
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]
* Arcan Resources Ltd ARN.TO price target raised to C$7.50 from $6.25 at National Bank
* Cequence Energy (CQE.TO) rating cut to sector perform from outperform at National Bank
* Emerge Oil & Gas Inc EME.TO price target cut to C$3.25 from C$3.50 at National Bank
* Legacy Oil Plus Gas Inc LEG.TO price target cut to C$19 from C$20 at National Bank
* Open Range Energy Corp ONR.TO price target raised to C$9.25 from C$8.50; rating outperform at National Bank
* Second Wave Petroleum Inc SCS.TO price target raised to C$3.25 from C$3 at National Bank
* Tourmaline Oil Corp TOU.TO price target raised to C$41 from C$35 at National Bank
* Trioil Resources TOL.TO price target raised to C$5.25 from C$6.50 at National Bank
* Twin Butte Energy TBE.TO price target cut to C$4 from C$4.25 at National Bank
* Waldron Energy Corp WDN.TO price target cut to C$4.25 from C$4.75 at National Bank
$1= $0.95 Canadian Reporting by Karan Khemani; Editing by Jeffrey Hodgson