European shares dip

PARIS, Oct 8 (Reuters): European stocks dipped on Tuesday, losing ground for the fourth time in five sessions as investors continued to move to the sidelines, rattled by the lack of significant progress in resolving the US budget standoff. At 0703 GMT, the FTSEurofirst 300 index of top European shares was down 0.1 per cent at 1,240.37 points. As the partial US government shutdown entered a second week, investors worry that Republicans and Democrats won't reach an agreement on the budget as well as on the debt ceiling ahead of the October 17 deadline, which could result in a US debt default. "No one has the confidence or nerve to place any sizable positions," Capital Spreads trader Jonathan Sudaria said in a note.