U.S. stock futures were little changed Wednesday, with financial shares in focus as investors eyed the Bank of America’s stock offering.

Bank of America announced late Tuesday that it had completed a stock sale that raised US$13.5 billion in capital. That helped put the company more than halfway toward raising the money the U.S. government said was necessary based on a review of the bank’s books.

In today’s economic news, Canada’s annual inflation rate fell as energy prices declined.

Consumer prices rose 0.4% in the 12 months to April 2009, down from the 1.2% observed in March, Statistics Canada said Wednesday. On a seasonally adjusted monthly basis, consumer prices fell 0.3% from March to April.

While upward pressure on the consumer price index came primarily from food, the slowdown was due mainly to price declines for energy and reduced upward pressure from non-energy shelter components, the government agency said.

Separately, StatsCan reports on leading indicators for April. A drop of 1% from the previous month is forecast.

The Canadian dollar opened at US86.63¢, up 0.15 of a cent from Tuesday’s close.

South of the border, investors are awaiting testimony at 9:30 a.m. from Treasury Secretary Timothy Geithner to the U.S. Senate on the government’s assistance to financial institutions.

Weekly energy inventories and the minutes from the Federal Reserve Board’s last meeting are also due.

In today’s earnings news, Canaccord Capital Inc. reported a lower profit for the fourth quarter ended March 31 as revenues dropped 25%. Net income was $3.8 million, or 7¢ a share, compared $7.2 million, or 15¢ in the same period of the prior year.

In commodities news, oil futures rose 52¢ to US$60.62 a barrel ahead of the U.s. inventories data.

Overseas, Japan’s Nikkei stock average rose 0.6%, while Hong Kong’s Hang Seng index slipped 0.4%.

In afternoon trading, the UK’s FTSE 100 fell 0.4%, Germany’s DAX index rose 0.4%, and France’s CAC-40 fell 0.2%.

On Tuesday, the benchmark index of the Toronto Stock Exchange surged higher, closing well above the 10,000-mark as it caught up with international stock markets that advanced sharply during Monday’s trading.

The S&P/TSX composite index gained 338.1 points, or 3.5%, to close at 10,100.95, after the exchange was closed on Monday for the Victoria Day holiday.

All 10 main groups on the index advanced on Tuesday, with energy stocks leading the way as oil futures moved to a six-month highJunior companies on the TSX Venture exchange also advanced on Tuesday, leading the S&P/TSX composite index up 13.4 points, or 1.3%, to 1,076.49.

In New York, U.S. stocks finished mainly flat on Tuesday after registering hefty gains in Monday’s trading.

The Dow Jones industrial average lost 29.23 points, or 0.3%, at 8,474.85.

The S&P 500 index slipped 1.58 points, or 0.2%, to 908.13.

The Nasdaq composite index edged up 2.18 points, or 0.1%, to close at 1,734.54.

IE