July 10 (Reuters) - Canada’s main stock index futures pointed to a higher open on Wednesday as investors await the U.S. Federal Reserve’s minutes releasing later in the day, but gains could be capped after a surprise fall in China’s June exports raised concerns about a slowdown in the world’s second-largest economy.
* China warned of a “grim” outlook for trade after a surprise fall in June exports, raising fresh concerns about the extent of the slowdown in the world’s second-largest economy and increasing the pressure on the government to act.
* Italy’s one-year debt costs rose to their highest level since March at an auction, a day after Standard & Poor’s cut Italy’s sovereign credit rating to two notches above junk.
* KKR & Co raised $6 billion for its third Asia private equity fund, equipping the firm with the largest such fund in the region at a time when market turmoil is creating both opportunities and challenges for foreign investors.
* British luxury brand Burberry beat forecasts for the first quarter with an 18 percent jump in sales, boosting its shares and allowing it to maintain its full-year guidance in the face of an otherwise struggling global economy.
* Canada stock futures traded up 0.21 percent
* U.S. stock futures , , were mixed around 0.05 percent to -0.1 percent
* European shares, were down
* Thomson Reuters-Jefferies CRB Index : 285.6156; rose 0.52 percent
* Gold futures : $1,256.6; rose 0.86 percent
* US crude : $105.22; rose 1.63 percent
* Brent crude : $108.29; rose 0.45 percent
* LME 3-month copper : $6,793.25; rose 0.94 percent
Following is a summary of research actions on Canadian companies reported by Reuters.
* Calfrac Well Services Ltd : National Bank Financial raises price target to C$39 from C$33, expects a positive outlook for activity in the second half of 2013 with the company poised for outsized benefits given the current customer mix.
* Continental Gold Ltd : BMO starts rating coverage with outperform, expects the company to trade at a premium to peers given the Buritica project’s high-grade ounces, potential top cash costs, and geological prospectivity.
* No major Canadian economic data scheduled for the day
* Major U.S. events and data includes mortgage index, wholesale inventories and sales, and refinancing index