By Brian McGee
Dec. 1 (Bloomberg) -- U.S. stock-index futures gained before reports that may show consumer spending rose in October and that growth in manufacturing accelerated in November in the world's largest economy. Shares of Intel Corp. and Microsoft Corp. advanced in Europe.
``Demand for consumer electronics is beginning to pick up,'' said Peter Kaye, a fund manager at Dalton Strategic Partnership in London, which oversees about $900 million. ``I'm reasonably positive'' on U.S. technology stocks. Kaye has been adding to his holdings of Dell Inc., Tibco Software Inc. and Citrix Systems Inc.
Standard & Poor's 500 Index futures expiring in December added 2.6 to 1176.80 as of 12:02 p.m. in London. Dow Jones Industrial Average Index futures gained 9 to 10,463 and Nasdaq 100 Index futures rose 4 to 1577.5. Fourteen Dow stocks declined for 13 that advanced.
Intel, the world's biggest semiconductor maker, rose 15 cents to $22.53 in Germany. Microsoft, the largest software maker, added 13 cents to $26.94, also in Germany.
The Commerce Department is expected to report a 0.4 percent rise in personal spending as an improving labor market led to the biggest increase in incomes in five months, according to the median of 61 estimates surveyed by Bloomberg News.
Manufacturing growth probably accelerated in November for the first time in four months as production rose to meet demand, according to the median estimate of 70 economists surveyed by Bloomberg News. The reports are due at 8:30 a.m. and 10:00 a.m. Washington time, respectively.
In November, U.S. retail sales rose less than expected, the International Council of Shopping Centers said yesterday.
Car Sales
U.S. auto sales probably declined in November from a year earlier, partly because automakers reduced sales incentives.
General Motors Corp., Toyota Motor Corp. and other companies sold cars and light trucks at a pace yielding annual sales of 16.6 million, according to analysts and economists surveyed by Bloomberg News. That's less than the November 2003 rate of 16.95 million and the October 2004 rate of 16.96 million.
General Motors shares dropped 10 cents to $38.49 in France.
International Business Machines Corp., the world's biggest computer-services company, said it won more than $1 billion in new contracts as it completed the acquisition of two Danish businesses. The shares added 32 cents to $94.56 in Germany.
The new contracts are with Copenhagen-based A.P. Moeller- Maersk A/S, the world's biggest shipper, and Danske Bank, the second biggest Nordic lender, which sold the units to IBM.
Motorola Market Share
Samsung Electronics Co. of South Korea overtook Motorola Inc. for the first time as the world's second-largest mobile- phone maker, market researcher Gartner Inc. said. Motorola shares fell 12 cents to $19.14 in Germany.
Samsung sold 22.9 million units, or 13.8 percent of worldwide sales, during the third quarter, Gartner said in a report dated Nov. 30. That compares the 22.4 million handsets, or 13.4 percent market share, sold by Motorola, which slipped to third.
Manpower Inc., the world's No. 2 temporary-staffing company, said French authorities are investigating the company and some of its competitors regarding alleged violations of European Union and French competition laws.
The company is reviewing the situation and cooperating with the probe and declined further comment, Milwaukee-based Manpower said in a statement. Manpower shares didn't trade in Europe. The stock fell 2.6 percent to $48.37 yesterday.
Novellus, Dollar General
Novellus Systems Inc., which makes machines used in semiconductor manufacturing, advanced 24 cents to $27.18 in German trading. The San Jose, California-based company yesterday forecast fourth-quarter sales and profit to exceed analysts' estimates, saying orders won't decline as much as previously expected.
Dollar General Corp., which sells food and household items for no more than $20, may move. The company is scheduled to report third-quarter results before U.S. exchanges open.
Comverse Technology Inc., the world's largest maker of telephone voice-mail software; and Pall Corp., a U.S. provider of equipment and services to the biotechnology industry, may move. They are scheduled to announce earnings after the close of U.S. exchanges. None of those three stocks traded in Europe.
The Standard & Poor's 500 Index in the U.S. fell 0.4 percent yesterday to 1173.82. The Dow Jones Industrial Average declined 0.5 percent. The Nasdaq Composite Index lost 0.5 percent to 2096.81.
To contact the reporter on this story: Brian McGee in London at bmcgee3@bloomberg.net.
Last Updated: December 1, 2004 07:19 EST
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