CANADA STOCKS-TSX may open lower as U.S. budget stalemate lingers

Mon Oct 7, 2013 8:19am EDT
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Oct 7 (Reuters) - With the U.S. government stalemate entering its second week, Canada's main stock index was set for a lower open on Monday as a lack of progress after talks over the weekend dented investor confidence.


* As the U.S. government moved into the second week of a shutdown with no end in sight, a deadlocked U.S. Congress also confronted an Oct. 17 deadline to increase the nation's borrowing power or risk default.

* The World Bank lowered its 2013 and 2014 economic growth forecasts for China and most of developing East Asia, citing slower growth in the world's most populous nation as well as weaker commodity prices that have hurt exports and investments in countries such as Indonesia.

* Airbus announced its first jet order from Japan Airlines Co Ltd, breaking open the last big aviation market dominated by Boeing Co in a move that suggests the U.S. company may pay for the 787 Dreamliner's troubled debut.

* Apollo Tyres' $2.5 billion acquisition of Cooper Tire & Rubber Co has flared into a war of words as the two companies haggle over the price of the deal plagued by labor issues in the United States, where Cooper is based, and in China.

MARKET SNAPSHOT   Continued...