Stock-index futures climb

US stock-index futures advanced after Staples Inc won a fight to purchase Corporate Express NV and Biogen Idec Inc said it got a $15 billion buyout offer from Carl Icahn, fueling speculation takeovers may boost share prices.

Biogen, the largest maker of drugs for multiple sclerosis, gained in Europe. Exxon Mobil Corp rose after a rebound in oil prices helped the earnings outlook for oil producers.

Standard & Poor's 500 Index futures expiring this month added 3.3 to 1,359.50 as of 11:39 am in London. Dow Jones Industrial Average futures gained 27 to 12,303 and NASDAQ 100 Index futures rose 3.50 to 1,976.75.

"All takeover news is good for the industry involved and the market as a whole," said Jacques Porta, who helps manage $180 million at Ofivalmo Patrimoine in Paris. "Mergers and acquisitions will continue. It's positive for stocks."

Agencies

(China Daily 06/12/2008 page17)