CANADA STOCKS-TSX may open lower; hurt by U.S. budget worries

Fri Sep 27, 2013 8:27am EDT
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Sept 27 (Reuters) - Canadian stocks looked set to open lower on Friday, with investors worried about the risk that a U.S. budget showdown will shut down the federal government and potentially lead to a debt default next month.

Shares of BlackBerry Ltd were being closely watched after the smartphone maker, as previously warned, reported a nearly $1 billion quarterly loss on Friday. The stock was up slightly in pre-market trade.


* U.S. House of Representatives Republicans on Thursday refused to give in to President Barack Obama's demand for straightforward bills to run the government beyond Sept. 30 and to increase borrowing authority to avoid a historic default.

* Optimism about the euro zone's economy brightened for the fifth month running and hit a 2-year high in September, adding to evidence that a recovery is underway.

* Private equity firm KKR & Co said it will initially pay about 165 billion yen for Panasonic Corp's healthcare unit, in what could be the largest buyout deal in Asia year to date.

* J.C. Penney Co Inc will raise up to $932 million from a share offering of 96.6 million shares at $9.65 each.

MARKET SNAPSHOT   Continued...