U.S. stock-index futures advanced on optimism Ireland is on the brink of accepting a bailout to rescue its indebted banks, helping to prevent contagion across Europe’s debt markets. Alcoa Inc. and Exxon Mobil Corp. climbed in German trading as base metals rallied in London and crude oil rebounded from a four-day drop. General Motors Co. returns to public trading today following a $20 billion initial public offering. Walter Energy Inc. might be active after Canada’s Western Coal Corp. said it received an offer to combine the companies in a C$3.3 billion ($3.25 billion) transaction. Futures on the Standard & Poor’s 500 Index expiring in December rose 1 percent to 1,189.6 at 9:46 a.m. in London. Dow Jones Industrial Average futures advanced 0.8 percent to 11,083, while Nasdaq-100 Index futures gained 1.2 percent to 2,122.25. “The focus at the moment is all on the bailout issue and the view that Ireland has to do this because otherwise there will be continued repercussions for debt markets across Europe,” said London-based Vanessa Rossi, a senior research fellow at Chatham House in an interview with Bloomberg Television’s Andrea Catherwood. Futures extended gains today and Irish bonds advanced after central bank Governor Patrick Honohan said he expects Ireland to tap a loan from the European Union and the International Monetary Fund worth “tens of billions.” EU and IMF officials fly to Dublin today. S&P 500 The S&P 500 tumbled by the most in almost three months on Nov. 16 amid speculation that the debt crisis in Europe is worsening and that China will act to slow its economy. The benchmark gauge has still jumped 15 percent since July as the Federal Reserve increased its program of asset purchases to stimulate growth. A report today may show the index of U.S. leading indicators rose in October by the most in five months on signs the Fed was preparing to take additional action to spur growth, economists said. The Conference Board’s gauge of the outlook for the next three to six months climbed 0.5 percent, according to the median of 58 forecasts in a Bloomberg News survey. Separate figures may show jobless claims last week held near a four-month low. Alcoa, the largest U.S. aluminum producer, increased 1.5 percent to $13.14 in Germany as commodities snapped two days of losses on the prospect of an EU-led bailout for Ireland. Freeport-McMoRan Copper & Gold Inc., the world’s largest publicly traded copper producer, climbed 2.1 percent to $98.88. Copper Climbs Copper rose for a second day in London as the dollar weakened, spurring demand for commodities as an alternative investment, on the prospect of an EU-led bailout for Ireland. Exxon Mobil, the world’s largest company by market value, gained 0.6 percent to $69.45 as crude oil rebounded from a four- week low. ConocoPhillips increased 1.2 percent to $61.51 in Germany. GM, which went bankrupt last year after almost a century on the New York Stock Exchange, returns to public trading today. The owners, including the U.S. Treasury, sold $15.8 billion of common shares at $33 each yesterday in the second-largest U.S. IPO on record. Walter Energy might also move after Western Coal, which operates in Canada, the U.S. and Britain, said it received an offer to combine. Western Coal shareholders would receive a mixture of cash and Walter shares valued at C$11.50 per Western share, the Vancouver-based company said today in a statement. That represents a premium of 56 percent to its closing price yesterday on the Toronto Stock Exchange. 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.

Source