US STOCKS-Futures point to higher open on merger activity

lunes 24 de noviembre de 2014 09:52 GYT

* Wall Street closed a fifth week of gains on Friday

* RenaissanceRe to buy Platinum for $1.9 bln

* Trading may be light during Thanksgiving holiday week

* Futures up: S&P 6 pts, Dow 44 pts, Nasdaq 15

By Ryan Vlastelica

NEW YORK, Nov 24 (Reuters) - U.S. stock index futures pointed to a higher open on Monday, indicating that major indexes would move further into record territory on the back of multiple merger deals and hopes that China will take further accommodative monetary policy action.

Equities closed a fifth straight week of advances Friday, with the Dow and S&P 500 ending at closing records on the back of accommodative action from central banks in China and Europe.

Policy in China, the world's No. 2 economy, could spur more market gains. Sources told Reuters the country's leadership and central bank were ready to cut interest rates again and loosen lending restrictions on concern falling prices could trigger a surge in debt defaults, business failures and job losses.

In merger news, RenaissanceRe Holdings Ltd agreed to buy Platinum Underwriters Holdings Ltd for $1.9 billion. BioMarin Pharmaceuticals Inc said it would buy Dutch drug developer Prosensa Holding NV for about $840 million including milestone payments.   Continuación...