May 2 (Reuters) - Canada’s resource heavy main stock index looked set for a lower open on Wednesday, as weak euro zone manufacturing data offset optimism from recent corporate results and signs of strength in U.S factories.
* The euro zone’s manufacturing sector slipped further into decline last month as a downturn that started in the periphery appears to be taking root among core members France and Germany, a survey showed.
* Barrick Gold said its first-quarter profit rose, driven by a surge in bullion prices, and the world’s largest gold miner raised its quarterly dividend 33 percent.
* Canadian utility Fortis Inc’s quarterly profit rose 4 percent partly on lower tax.
* Yamana Gold Inc said on Tuesday its quarterly profit rose 15 percent as revenue was boosted by higher production and stronger gold prices.
* Open Text Corp. : The business software company said on Tuesday it agreed to acquire EasyLink Services, a provider of cloud-based messaging services, for $232 million, in an attempt to tap business in the growing Cloud and mobile environments.
* Canada stock futures traded down 0.54 percent
* U.S. stock futures , , were down around 0.20 percent
* European shares, were down
* Thomson Reuters-Jeffries CRB Index : 306.95; fell 0.32 percent
* Gold Futures : $1649.6; fell 0.73 percent
* US Crude : $105.77; fell 0.37 percent
* Brent Crude : $119.19; fell 0.39 percent
* LME 3-month Copper : $8321.5; fell 1.4 percent
* Pason Systems Inc. : The oil field services provider’s profit beat estimates, driven by increased oil drilling in North America, but the company expects growth to moderate this year as gas drilling rates decline.
* Intact Financial : The property and casualty insurer said its first-quarter operating profit rose 75 percent, topping estimates, as insurance premiums rose due to last year’s acquisition of French insurer AXA’s Canadian assets.
* Fairfax Financial : The property and casualty insurer run by investor Prem Watsa, reported a smaller than expected quarterly loss because of stronger underwriting results and lower investment losses.
* MacDonald, Dettwiler and Associates Ltd. : The surveillance and satellite imaging company posted an 18 percent rise in first-quarter profit, helped in part by a foreign exchange gain.
* Genworth MI Canada Inc. : The residential mortgage insurer’s quarterly profit rose, helped in part by higher net gains on investments.
* Ivanhoe Mines : The miner appointed a new CEO to replace founder Robert Friedland, who was ousted last month when the company’s majority owner, global miner Rio Tinto, took control over management.
Following is a summary of research actions on Canadian companies reported by Reuters.
* Brookfield Canada Office Properties : CIBC raises price target to C$29 from C$27.50 on strong 1st-qtr results
* Thomson Reuters : National Bank Financial raises to sector perform from underperform after quarterly results beat analysts’ estimates
* Sprott Power : Canaccord Genuity starts with buy rating and price target of C$1.30; says company well positioned for rapid growth
* Westjet Airlines : CIBC raises price target to C$18.50 from C$17.50 on solid 1st-qtr results and strong valuations
* Major U.S. events and data includes ADP employment report and factory orders