U.S. stock-index futures fluctuated after the Standard & Poor’s 500 Index last week extended a four- month high. Alberto Culver Co. may climb after Unilever, the maker of Dove soap, agreed to buy the company for $3.7 billion in cash. M&T Bank Corp. may fall after merger talks with the U.S. unit of Spain’s Banco Santander SA were said to have broken down again. Wal-Mart Stores Inc. retreated after the world’s largest retailer announced it plans to buy South Africa’s Massmart Holdings Ltd. Futures on the S&P 500 expiring in December were little changed, rising 0.1 percent to 1,144.3 at 12:07 p.m. in London. Dow Jones Industrial Average futures advanced 0.2 percent to 10,805 and Nasdaq-100 Index futures increased 0.1 percent to 2,021. “Equities have been in a trading range in the last couple of weeks and we are now at that top of that range again,” said London-based Manoj Ladwa, a senior trader at EXT Capital. “We need a catalyst to break through. The upcoming third-earnings could be key. Sentiment seems to be turning back to the upside, but we need volumes to increase.” The S&P 500 last week capped the longest weekly rally since April as increased demand for capital goods, technology products and consumer items eased concern that the economic rebound is slowing. The gauge has still fallen 5.6 percent from this year’s high in April amid concern that U.S. unemployment and budget deficits in Europe could yet derail growth. Nouriel Roubini New York University Professor Nouriel Roubini today said there’s a high probability of another recession in the U.S. while Japan’s outlook is “anemic,” underscoring risks to the global recovery. China, the world’s fastest-growing major economy, may face greater headwinds should growth in the U.S. and Europe weaken, Roubini said in Kuala Lumpur today, where he is attending a conference. The U.S. will probably revise down its second- quarter gross domestic product figures after “awful” June real-estate numbers, he also said. In Japan, the government is considering a 4.6 trillion yen ($54.61 billion) stimulus package to help shore up a recovery that has been threatened by the yen’s 10 percent surge this year against the dollar, an official said. Prime Minister Naoto Kan’s administration plans to avoid issuing additional government bonds to pay for the package. He expects to meet the cost of the stimulus from higher-than- forecast tax revenue and left over funds from the 2009 budget, the official said on condition of anonymity. Kan will also use savings on debt-interest costs from a slide in bond yields, the person said. Alberto Culver Alberto Culver may rise after Unilever agreed to pay $37.50 a share for the maker of TRESemme and Nexxus shampoo, making the deal the company’s biggest purchase in a decade. That’s about 19 percent more than Alberto’s closing price on Sept. 24. The acquisition will add to Unilever’s earnings per share in its first year, it said in a statement. M&T Bank may fall after two people with knowledge of the matter said talks, which had focused on combining M&T with Santander’s U.S. banking unit, fell apart late last week. The talks broke down over a disagreement about who would have control of the combined institution, according to one of the people, who spoke on condition of anonymity because the discussions are private. Santander has sought to merge its Sovereign Bank unit with M&T, while negotiating for Allied Irish Banks Plc’s 22.5 percent stake in the lender, other people with knowledge of the matter have said. Together, M&T and Sovereign would become the ninth- largest U.S. savings institution by deposits. Wal-Mart slipped 0.2 percent in German trading after the retailer said it plans to buy Massmart for 29.8 billion rand ($4.25 billion) in a transaction that would add 290 stores in 13 sub-Saharan African countries. South Africa’s biggest food and general goods wholesaler received a non-binding proposal from Wal-Mart that may lead to a cash offer of 148 rand a share, the retailer said. To contact the reporters on this story: Sarah Jones in London at sjones35@bloomberg.net. To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net.

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