Wall Str may edge higher on M038;A boost

The FTSEurofirst 300 index of leading European shares was up 0.4 percent at 1,033.86 points,with miners gaining on hopes that Australia8217;s election result means plans for higher taxes will be scrapped.

Campbell Soup Co,the world8217;s largest soup maker,is considering making a 1.5 billion pound 2.3 billion break-up bid for Britain8217;s United Biscuits,the Sunday Times reported.

Recent Mamp;A activity includes Intel Corp8217;s move to acquire software maker McAfee Inc for 7.7 billion.

There are no major U.S. companies due to report. Results due later in the week include those from bookseller Barnes amp; Noble,expected to report a quarterly loss on Tuesday.

Economic data due this week include existing housing sales on Tuesday,set to show a 12 percent decline.

U.S. stocks slipped on Friday and the Samp;P 500 and Dow fell for a second straight week on persistent concerns the recovery has tapered off. For the week,the Samp;P 500 was down 0.7 percent and the Dow slipped 0.9 percent,while the Nasdaq gained 0.3 percent. It was the second week of declines for the Samp;P and the Dow.

Even so,major indexes came off Friday8217;s lows as some investors homed in on positive outlooks in the tech sector and used recent Mamp;A news as an excuse for late-day buying.