Wall Street set to edge higher, boosted by M&A

* Wall Street was set to edge up on Monday, with merger and
acquisition activity boosting sentiment after major indexes fell
for two weeks in a row.

* At 0846 GMT, futures for the Dow Jones (DJc1: ), S&P 500
(SPc1: ) and Nasdaq (NDc1: ) were up between 0.2 and 0.3 percent.

* The FTSEurofirst 300 (.FTEU3: ) index of leading European
shares was up 0.4 percent at 1,033.86 points, with miners
gaining on hopes that Australia’s election result means plans
for higher taxes will be scrapped.

* Campbell Soup Co (CPB.N: ), the world’s largest soup maker,
is considering making a 1.5 billion pound ($2.3 billion)
break-up bid for Britain’s United Biscuits, the Sunday Times

* Recent M&A activity includes Intel Corp’s (INTC.O: ) move to
acquire software maker McAfee Inc (MFE.N: ) for $7.7 billion.

* There are no major U.S. companies due to report. Results
due later in the week include those from bookseller Barnes &
Noble (BKS.N: ), expected to report a quarterly loss on Tuesday.

* Economic data due this week include existing housing sales
on Tuesday, set to show a 12 percent decline.

* U.S. stocks (Read more about the stock market today. ) slipped on Friday and the S&P 500 and Dow fell
for a second straight week on persistent concerns the recovery
has tapered off. For the week, the S&P 500 was down 0.7 percent
and the Dow slipped 0.9 percent, while the Nasdaq gained 0.3
percent. It was the second week of declines for the S&P and the

* Even so, major indexes came off Friday’s lows as some
investors homed in on positive outlooks in the tech sector and
used recent M&A news as an excuse for late-day buying.
(Reporting by Brian Gorman; Editing by Michael Shields)

Wall Street set to edge higher, boosted by M&A