* Britain's Prudential to buy AIG's Asian unit
* ISM, Personal income and spending on tap
* Germany's Merck KGaA to buy Millipore
* Futures up: Dow 15 pts, S&P 1.6 pts, Nasdaq 5.75 pts
* For up-to-the-minute market news, click []
By Chuck Mikolajczak
NEW YORK, March 1 (Reuters) - U.S. stock index futures
rose on Monday after AIG said it would sell its life insurance
unit in Asia and as investors awaited U.S. data on
manufacturing and consumer spending.
American International Group Inc <AIG.N> shares jumped 12.2
percent to $27.78 in premarket trade after Britain's Prudential
plc <PRU.L> agreed to acquire AIG's insurance arm AIA Group for
$35.5 billion. For details, see []
Investors will watch the U.S. Commerce Department's release
of January personal income and consumption data at 8:30 a.m
[], while at 10 a.m. [], the Institute for
Supply Management releases its February manufacturing index and
the Commerce Department releases January construction spending
figures.
"The news that Prudential from the United Kingdom is buying
AIG's Asian life insurance business, all eyes are focusing on
that," said Peter Cardillo, chief market economist at Avalon
Partners in New York.
"We will also have a slew of economic data today (that)
could boost stocks even higher if we get a good reading out of
the ISM and above all, consumer spending."
Personal income is expected to rise by 0.4 percent, with
personal spending flat, according to Reuters estimates.
S&P 500 futures <SPc1> rose 1.6 points and were above fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures <DJc1> gained 15
points, and Nasdaq 100 futures <NDc1> added 5.75 points.
Also helping to boost futures were signs that Athens might
be nearing a deal with European Union governments to take more
budget steps in exchange for some form of emergency aid for
Greece. []
Millipore Corp <MIL.N> surged 11.4 percent to $105.15 in
premarket after Germany's Merck KGaA <MRCG.DE> on Sunday said
it agreed to buy the U.S. biotech tool maker for about $6
billion in cash. []
Intrepid Potash Inc <IPI.N> shares were unchanged at $27.52
in premarket after the fertilizer maker reported fourth-quarter
earnings slumped 70 percent on pricing that nearly halved from
the prior year, but said it expects improved sales volume in
2010. []
Other companies expected to post results as earnings season
draws to a close include CMS Energy Corp <CMS.N>, Edison
International <EIX.N> and Rowan Cos Inc <RDC.N>.
European shares turned negative by midday, led by declines
in Prudential in the wake of its deal for part of AIG and
weaker HSBC <HSBA.L> shares after its results. []
Asian shares rose, boosted by mining stocks after a massive
earthquake in Chile, the world's top copper producer and signs
the debt crisis in Greece could be easing. []
U.S. stocks rose on Friday, capping their best monthly
advance since November as data showed the economy grew a tad
better than expected in the fourth quarter.
(Editing by Padraic Cassidy)
