Mon, June 11, 2012
Business > Markets

US stock futures point to higher open

2012-06-11 08:58:06 GMT2012-06-11 16:58:06(Beijing Time)  SINA.com

LONDON - Stock index futures pointed to a higher open on Wall Street on Monday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 up 1.0-1.3 percent.

Goldman Sachs (GS.N) is close to striking a deal over the sale of its hedge fund administration business with State Street Corp (STT.N), the Financial Times reported. The move would create the largest administration services provider to hedge funds worldwide.

General Electric Co. (GE.N) will invest $900 million in Turkish infrastructure development projects over the next three years, John Rice, Vice Chairman and President of GE global growth and operations, said on Monday in Istanbul.

General Electric is considering breaking off large parts of its lending business, the Wall Street Journal reported on Sunday.

Indonesia has granted permission to Freeport McMoRan Copper & Gold Inc (FCX.N) to export unprocessed ore, after the government imposed new rules on mining exports, the company said on Monday.

American Airlines still plans to exit bankruptcy at the end of this year but is not concentrating on a merger despite pressure from unions to forge a combination with US Airways (LCC.N), American's chief executive said on Monday.

The head of the world's biggest wind turbine maker, Vestas (VWS.CO), said on Sunday the U.S. wind turbine market is likely to fall by 80 percent next year because of the expected expiry of an important tax credit.

LinkedIn Corp (LNKD.N), criticized for inadequate network security after hackers exposed millions of its users' passwords, said on Saturday it had finished disabling all affected accounts and did not believe other members were at risk.

Companies are finding it more difficult to grow their revenue now than at just about any time since the financial crisis.

French set-top maker Technicolor SA (TCH.PA) rejected a revised offer from a JPMorgan Chase (JPM.N) investment fund for a 30 percent stake for 179 million euros ($223 million), opting instead for an earlier, lower offer which it said was better structured.

Boeing (BA.N) expects to reach a cumulative total of 1,000 orders for the revamped 737 MAX aircraft by the end of the year and will defend a 50 percent share of the market for such narrowbody jets against European rival Airbus (EAD.PA), Boeing's chief commercial executive Jim Albaugh said.

Turkish Airlines (THYAO.IS) is studying a possible purchase of revamped medium-haul jets being offered by Airbus (EAD.PA) or Boeing (BA.N), its chief executive said.

Goodrich Corp (GR.N) will supply the inertial measurement sensor for Thales' Lightweight Multirole Missile.

European equities (.FTEU3) rose 1.8 percent on Monday as a deal to shore up Spain's ailing banks prompted investors to scoop up battered financial shares. Japan's Nikkei average (.N225) earlier climbed 2 percent.

Euro zone finance ministers agreed on Saturday to lend Spain up to 100 billion euros ($125 billion) for its banks and Madrid said it would specify precisely how much it needs once independent audits report in just over a week.

China's inflation, industrial output and retail sales all flagged in May for a second straight month of sluggish growth that galvanized policymakers last week into taking their boldest action yet to combat a sharpening slowdown.

On Friday, the Dow Jones industrial average (^DJI) rose 93.24 points, or 0.75 percent, to end at 12,554.20. The Standard & Poor's 500 Index (^GSPC) gained 10.67 points, or 0.81 percent, to 1,325.66. The Nasdaq Composite Index (^IXIC) climbed 27.40 points, or 0.97 percent, to close at 2,858.42.

(Agencies)

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