July 16 (Reuters) - Canada’s main stock index looked set to open higher on Tuesday as investors awaited U.S. Federal Reserve Chairman Ben Bernanke’s testimony to Congress on Wednesday.
* German analyst and investor sentiment unexpectedly worsened in July, reflecting economic tensions in the euro zone and a global slowdown that is hitting exports, a survey showed.
* Mosaic reported lower quarterly profit as phosphate and potash prices slipped.
* Goldman Sachs Group Inc’s quarterly profit doubled as the bank made more money trading bonds before an interest-rate spike hit markets in June.
* Coca-Cola Co said its quarterly profit fell due to ongoing economic malaise and unusually poor weather.
* Canada stock futures traded up 0.38 percent
* U.S. stock futures , , were mixed around -0.08 percent and 0.07 percent
* European shares, were down
* Thomson Reuters-Jefferies CRB Index : 288.9169; rose 0.55 percent
* Gold futures : $1,283.2; rose 0.13 percent
* US crude : $107.05; rose 0.69 percent
* Brent crude : $109.5; rose 0.38 percent
* LME 3-month copper : $6,972; rose 0.8 percent
Following is a summary of research actions on Canadian companies reported by Reuters.
* Loblaw Companies : CIBC raises target to C$53 from C$48, says the company is just getting its core business under control before heading into a more competitive second half.
* Mercer International Inc : RBC cuts to sector perform from outperform, sees limited momentum in global pulp markets and few catalysts for the company’s shares over the next 12 months.
* Tembec : RBC cuts to sector perform from outperform on rising concerns with the company’s increased debt.
* WiLan Inc : Canaccord Genuity cuts target price to C$6.60 from C$7 as the company received a negative judgment in its 3GPP trial with Alcatel Lucent, Ericsson, HTC and Sony.
* Major Canadian economic data includes manufacturing sales
* Major U.S. events and data includes CPI, industrial output, manufacturing output, Redbook and net capital inflows