May 10 (Reuters) - Canada’s main stock index looked set open lower, hurt by a drop in oil and gold prices, as investors cautiously awaited comments from U.S. Federal Reserve Chairman Ben Bernanke on the possibility of continued monetary easing.
* German imports and exports rose in March slightly after falling the previous month in a further sign that Europe’s largest economy is slowly pulling away from a contraction at the end of 2012 despite weakness in its euro zone neighbors.
* Japanese Prime Minister Shinzo Abe scored another small victory as the yen broke below major support of 100 to the dollar, with analysts predicting further declines over the course of the year that would underpin the export-dependent economy. [ID: nL3N0DR081]
* ArcelorMittal rebounded from a very weak end to 2012 and forecast improvement in the coming months after rising steel shipments produced a higher than expected core profit.
* TMX Group LTD reported a better-than-expected profit for the first quarter and said revenue rose 6 percent.
* Britain’s BT underlined its return to form ahead of its pending pay-TV battle with BSkyB , raising its outlook after improvements across the board helped it beat forecasts and send its shares soaring.
* Canada stock futures traded down 0.27 percent
* U.S. stock futures , , were up around 0.08 percent to 0.43 percent
* European shares, were up
* Thomson Reuters-Jefferies CRB Index : 289.5682; fell 0.82 percent
* Gold futures : $1,430.9; fell 2.58 percent
* US crude : $94.52; fell 1.94 percent
* Brent crude : $102.91; fell 1.49 percent
* LME 3-month copper : $7,386; rose 0.44 percent
Following is a summary of research actions on Canadian companies reported by Reuters.
* Algonquin Power & Utilities Corp : Canaccord Genuity raises to buy from hold and ups target price to C$8.50 from C$8 citing valuation and dividend yield after the company reported solid first-quarter results.
* BCE Inc : RBC raises price target to C$48 from C$47 after the company posted in-line first-quarter operating results, says the company is on track to meet the high-end of consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) outlook for 2013.
* Bombardier Inc : Canaccord Genuity raises target price to C$5.75 from C$5.25 on expectations of significant earnings growth after the company posted slightly better-than-expected first-quarter results.
* Canadian Tire Corp : National Bank Financial raises price target to C$91 from C$78 following the company’s first-quarter results and its plans to create a REIT to acquire a majority of its real estate assets and sell units through an IPO to lower cost of capital.
* Telus Corp : RBC raises price target to C$38 from C$37 on dividend growth targets and share buyback program after the company reported solid first-quarter wireless growth.
* Major Canadian economic data includes employment and participation rate
* Major U.S. events and data includes federal budget