CANADA STOCKS-TSX may open lower on earnings upset

Fri Oct 19, 2012 8:22am EDT
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Oct 19 (Reuters) - Canadian stock futures pointed to a lower open on Friday, as disappointing earnings reports from U.S. technology bellwethers Google and Microsoft sent jitters across the globe.


* European Union leaders agreed a single supervisor will take responsibility for overseeing euro zone banks from next year.

* General Electric Co posted an 8.3 percent rise in quarterly profit, as solid demand in the United States and Asia for its electric turbines and railroad locomotives helped to balance out Europe's woes.

* Schlumberger Ltd, the world's largest oilfield services company, reported a higher-than-expected quarterly profit, lifted by its strength outside the volatile North American market and its exposure to the offshore drilling boom.

* Baker Hughes Inc, the world's third-largest oilfield services company, reported weaker-than-expected quarterly results as a slowdown in North American drilling activity hit prices.

* Rosneft is poised to secure a tighter grip on Russia's oil industry by buying BP's 50 percent stake in TNK-BP, the country's third largest producing company.

MARKET SNAPSHOT   Continued...