TSX may open lower on Italian debt worries

(Reuters) - Toronto's main stock index looked set to open lower on Wednesday, hurt by weaker commodity prices as doubts about Italy's ability to tackle its debt problems persisted even after Prime Minister Silvio Berlusconi pledged to resign.

FACTORS TO WATCH

* Canadian equity futures pointed to a lower open.

* U.S. stock index futures tumbled as a spike in Italian bond yields sparked fears the country will need a bailout, ratcheting up the region's debt crisis to another level. .N

* European stocks were lower at midday as mounting concerns over Italy's debt kept investors on edge, following an early rally sparked by Berlusconi's pledge to step down as Italy's prime minister..EU

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.67 percent in early trade.

* Brent crude fell over $1, pressured by European debt worries as the cost of Italian bonds reached dangerously high levels.

* Gold edged higher on persistent doubts about Italy's ability to tackle its debt crisis as political uncertainty and soaring Italian bond yields prompted caution among investors.

* Copper fell to an almost a one-week low.

CANADIAN STOCKS TO WATCH

* Enbridge Inc.(ENB.TO: Quote): The pipeline operator's third-quarter profit fell on derivative losses, the company said. It earned C$4 million ($3.9 million), or 1 Canadian cent a share, down from C$157 million, or 21 Canadian cent a share, a year ago.

* Suncor Energy Inc. (SU.TO: Quote): The oil and gas producer forecast a 12 percent rise in its oil sands production in 2012 and expects to spend about C$3.6 billion toward growth projects in the coming year.

* Silver Wheaton Corp. (SLW.TO: Quote): The company reported a 96 percent jump in third-quarter profit, driven by strong silver prices, and the company tripled its dividend for the current quarter.

* First Quantum Minerals (FM.TO: Quote): The miner lowered its full-year production outlook to reflect a dip in quarterly production, even as higher gold and copper prices enabled the miner to post a third-quarter profit.

* Wi-Lan Inc. (WIN.TO: Quote): The patent licensing firm swung to a third-quarter profit, as it signed more license agreements and saw a drop in litigation costs.

* ATS Automation Tooling Systems Inc.(ATA.TO: Quote): The company's second-quarter profit almost doubled, helped by acquisitions that boosted revenue at its transportation business.

* TransGlobe Energy Corp.(TGL.TO: Quote): The company's quarterly profit rose nearly three-fold, helped by higher production and strong Brent oil prices, but the Canadian oil and gas company cut its full-year production forecast.

* Quebecor Inc. (QBRa.TO: Quote): The newspaper publisher and communications company's third-quarter profit fell 69 percent, hurt mainly by a charge related to its move toward a new accounting method and higher costs.

* Timmins Gold Corp. (TMM.TO: Quote): The miner swung to a second-quarter profit as it sold more gold at higher prices.

* Crocotta Energy Inc. (CTA.TO: Quote): The company swung to a third-quarter profit helped by rise in oil and natural gas production and said it expects to exit the year with higher production than expected.

ANALYST RECOMMENDATIONS

Following is a summary of research actions on Canadian companies reported by Reuters.

* Aecon (ARE.TO: Quote) rating raised to sector outperform from sector perform at CIBC

* Canadian Energy Services (CEU.TO: Quote) price target raised to C$14.25 from C$13 at National Bank

* CAP REIT (CAR_u.TO: Quote) price target raised to C$22.25 from C$21 at National Bank Financial; price target raised to C$22 from C$21 at CIBC

* Enbridge Income Fund (ENF.TO: Quote) rating cut to sector perform from outperform at National Bank Financial

* Foraco (FAR.TO: Quote) price target raised to C$4 from C$3.50 at

CIBC

* Grande Cache Coal (GCE.TO: Quote) rating cut to sector underperform from sector perform at CIBC

* MDA (MDA.TO: Quote) coverage started with outperform rating; price target of C$55 at National Bank Financial

* Minefinders (MFL.TO: Quote) rating cut to sector underperform from sector perform at CIBC

* Thompson Creek Metals Co (TCM.TO: Quote) price target cut to $13 from $14 at CIBC

* Tourmaline Oil (TOU.TO: Quote) price target raised to C$45.50 from C$40.50 at National Bank Financial

* UNI Select Inc (UNS.TO: Quote) price target cut to C$32 from C$33 at National Bank Financial

* Vermilion Energy (VET.TO: Quote) price target raised to C$52.50 from C$50 at CIBC

($1= $1.02 Canadian)

(Reporting by Karan Khemani; Editing by Jeffrey Hodgson)