Oct 7 (Reuters) - With the U.S. government stalemateentering its second week, Canada's main stock index was set fora lower open on Monday as a lack of progress after talks overthe weekend dented investor confidence.
* As the U.S. government moved into the second week of ashutdown with no end in sight, a deadlocked U.S. Congress alsoconfronted an Oct. 17 deadline to increase the nation'sborrowing power or risk default.
* The World Bank lowered its 2013 and 2014 economic growthforecasts for China and most of developing East Asia, citingslower growth in the world's most populous nation as well asweaker commodity prices that have hurt exports and investmentsin countries such as Indonesia.
* Airbus announced its first jet order from Japan AirlinesCo Ltd, breaking open the last big aviation market dominated byBoeing Co in a move that suggests the U.S. company may pay forthe 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 companieshaggle over the price of the deal plagued by labor issues in theUnited States, where Cooper is based, and in China.
* Canada stock futures traded down 0.63 percent
* U.S. stock futures , , were downaround 0.87 percent to 0.7 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 286.4369;fell 0.2 percent
* Gold futures : $1,311.8; rose 0.16 percent
* US crude : $102.82; fell 0.98 percent
* Brent crude : $108.59; fell 0.79 percent
* LME 3-month copper : $7,185.25; fell 1.03 percent
CANADIAN STOCKS TO WATCH
* BlackBerry Ltd : The company, on the block as itssmartphone business struggles, is in talks with Cisco Systems,Google Inc and SAP AG about selling them all or parts of itself,several sources close to the matter said.
* Bank of Nova Scotia : India's customs departmenthas cleared more than a tonne of gold, part of which was ownedby Bank of Nova Scotia, at Mumbai airport after ruleclarifications at a high-level meeting held last month, industryand bank officials said on Saturday. [ID: nL4N0HV05Z]
Following is a summary of research actions on Canadiancompanies reported by Reuters.
* Ag Growth International Inc : CIBC raises targetprice to C$38 from C$33 to reflect higher international backlog.
* Calfrac Well Services Ltd : CIBC cuts target priceto C$40 from C$41 after the company announced that itsthird-quarter results will not meet its expectations.
* Sandvine Corp : National Bank Financial raisesprice target to C$3.50 from C$2.50, says the company isoutpacing the competition after years of R&D investment.
ON THE CALENDAR
* Major Canadian economic data includes building permits
* Major U.S. events and data includes consumer credits
- Investment & Company Information