July 25 (Reuters) - Canada’s main stock index looked set to open lower on Thursday amid a slew of second-quarter corporate earnings and as investors remained on edge on persistent worries about China’s slowdown following weak economic data.
* Teck Resources Ltd reported a sharp drop in second-quarter earnings on lower copper and coal prices and cut its capital spending plan through 2014, delaying new mining projects.
* Potash Corp of Saskatchewan, the world’s biggest fertilizer producer, reported a lower-than-expected quarterly profit and cut its outlook as prices of its crop nutrients fell.
* Husky Energy Inc reported a 40 percent jump in second-quarter profit due to higher refining margins.
* Gold miner Agnico Eagle Mines Ltd reported a net loss on Wednesday, hurt in part by a maintenance shutdown, and said it is “reviewing all aspects” of its business in light of the recent drop in gold prices.
* Facebook Inc delivered strong evidence it can thrive on smartphones and tablets on Wednesday, reporting a much better-than-anticipated surge in mobile advertising revenue in the second quarter that ignited a nearly 17 percent share rally.
* Canada stock futures traded down 0.19 percent
* U.S. stock futures , , were mixed in the range of around -0.37 percent and 0.1 percent
* European shares, were down
* Thomson Reuters-Jefferies CRB Index : 287.4992; fell 0.28 percent
* Gold futures : $1,318.5; fell 0.09 percent
* US crude : $104.45; fell 0.89 percent
* Brent crude : $106.83; fell 0.34 percent
* LME 3-month copper : $6,967.75; fell 1.24 percent
Following is a summary of research actions on Canadian companies reported by Reuters.
* Agnico Eagle Mines : RBC cuts target price to $38 from $40 after the company’s second-quarter results were lower than expected due to an extended maintenance shutdown at its Kittila mine.
* Bombardier Inc : National Bank Financial raises target to C$5.50 from C$5.25 on valuation given positive longer-term view of the company’s performance.
* Canadian Pacific Railway : CIBC ups target C$126 from C$122, says the company continues to focus on improving operating ratio through cutting costs and improving service performance even after reporting a light second quarter.
* Mullen Group Ltd : National Bank Financial raises to outperform from sector perform, raises target price to C$26 from C$23.50 after the company reported better-than-expected second-quarter earnings, says CEO’s commentary is notably upbeat.
* No major Canadian economic data scheduled for release
* Major U.S. events and data include initial and jobless claims and durable goods