Oct 13 (Reuters) - Toronto’s resource-heavy main stock index could open higher on Wednesday as commodity prices got a boost after the Federal Reserve signaled the U.S. economy may need extra stimulus.
* Canadian equity futures <0#SXF:> pointed to a higher open.
* U.S. stock index futures pointed to a higher open on Wednesday, boosted by growing expectations of further quantitative easing by the Federal Reserve and on strong results from JPMorgan and technology firm Intel. [.N]
* European shares touched a three-week high, with technology shares among the top performers. [.EU]
* Shares in Asia rose with Hang Seng Index recovering sharply from its losses to close 1.5 percent higher led by financials, and as investors scooped up property shares hit by profit-taking after authorities announced new steps to cool prices.
* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.76 percent in early trade.
* Oil rose above $82 after China’s crude imports jumped last month, while a weaker dollar and expectations of further policy easing in the United States burnished the appeal of commodities for investors. [O/R]
* Gold held at its highest in nearly a week after the Federal Reserve signalled the U.S. economy may need extra stimulus, which hit the dollar, while evidence of strong investment demand lifted palladium. [GOL/]
* Copper rose to its highest level in more than two years on Wednesday, buoyed by dollar weakness and expectations of stimulus measures in the United States, the world’s largest economy. [MET/L]
* First Quantum Minerals (FM.TO): The miner on Wednesday said Zambia will continue to attract greater investment in the African Copperbelt than the Democratic Republic of Congo until Congo is better able to enforce the rule of law. [ID:nLDE69C0NF]
* Exfo Inc. (EXF.TO): The company on Tuesday posted a fourth-quarter profit helped by its telecom unit, and said it expects to post higher quarterly results in the first quarter. [ID:nSGE69B0KR]
* Western Forest Products Inc. (WEF.TO): The forest products company said its CEO Stephen Frasher resigned, and will be replaced by former CEO Dominic Gammiero, who is also the chairman of the company. [ID:nSGE69B0LK]
* Equinox Minerals Ltd. EQN.TO: The miner raised its 2010 copper output projection for the Lumwana copper mine in Zambia to 140,000 tonnes from 135,000 tonnes after posting strong third-quarter production results. [ID:nLDE69C0RL]
Following is a summary of research actions on Canadian companies reported by Reuters. [RCH/CA]
* Equinox Minerals EQN.TO rating cut to underperform from market perform on valuation at Raymond James
$1=$1.003 Canadian Reporting by Bangalore Newsroom; editing by Jeffrey Hodgson