CANADA STOCKS-TSX may open higher; commodities support

Fri Jul 19, 2013 8:28am EDT
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July 19 (Reuters) - Canada's main stock index looked set to open higher on Friday, supported by higher commodity markets and the U.S. Federal Reserve's assurances about its plans for stimulus withdrawal.


* The Group of 20 nations backed a tax plan that takes aim at the loopholes used by multinational firms and responds to anger among voters hit with higher tax bills to cover soaring national debts.

* Google Inc on Thursday reported second-quarter results short of Wall Street's estimates as weakening prices for the Internet company's ads and widening losses from its Motorola mobile phone business weighed on the bottom line.

* Microsoft Corp on Thursday reported lower-than-expected quarterly earnings as slow personal computer sales ate into its Windows business and the company took an unexpected $900 million charge for its inventory of unsold Surface tablets.

* Baker Hughes Inc, the world's third-largest oilfield services provider, reported a lower-than-expected second-quarter profit due mainly to weak margins in North America.

* Schlumberger Ltd, the world's largest oilfield services company, posted a better-than-expected profit for the seventh quarter as drilling activity outside North America touched a 30-year high.

MARKET SNAPSHOT   Continued...