European stock-index futures rose, indicating the Dow Jones Stoxx 600 Index may resume a six-month rally after two days of declines. Asian shares and U.S. futures advanced. Carnival Corp. may gain after Bank of America Corp. added the world’s biggest cruise-line operator to its “Europe 1” list. Samsung Electronics Co. rose 3.4 percent in Seoul after Citigroup Inc. lifted its price estimate and chip prices climbed to their highest level in more than a year. U.S. Steel Corp. may advance after Bank of America raised its recommendation. Futures on the Euro Stoxx 50, a benchmark for the euro region, added 0.5 percent at 7:20 a.m. in London. The U.K.’s FTSE 100 Index may increase 11, according to Cantor Index, a betting firm. Europe’s Stoxx 600 has gained 54 percent since March 9 as earnings at companies from Roche Holding AG to Goldman Sachs Group Inc. surpassed projections and the German and French economies unexpectedly exited recessions. The index declined for a second straight day yesterday on speculation the rally has outpaced prospects for profit and economic growth. The regional gauge is valued at 47.4 times the earnings of its companies, the most expensive level since 2003, weekly data compiled by Bloomberg show. U.S. stocks fell yesterday, pulling the Dow Jones Industrial Average down from an 11-month high. Standard & Poor’s 500 Index futures added 0.2 percent today, while the MSCI Asia Pacific excluding Japan Index increased 0.7 percent. Markets in Japan, Malaysia, Indonesia and Pakistan are shut for holidays. ‘Safeguard a Recovery’ The global economy has yet to feel the biggest impact of government-led spending programs to stimulate demand, according to U.K. Prime Minister Gordon Brown, who yesterday reiterated concerns about removing them too early. “The stimulus that we have still got to give the world economy is greater than the stimulus we have already had,” Brown told reporters in London before his departure today for the Group of 20 meeting in Pittsburgh. “What we want to do is safeguard a recovery from a recession we feared would develop into a depression.” Global leaders meet this week seeking to deliver the broadest financial regulation overhaul since the 1930s, potentially threatening profits and stock prices of banks. The G-20 convenes in Pittsburgh on Sept. 24-25 to discuss forcing banks to curb leverage, hold more equity capital and keep a greater pool of assets that can be easily traded. Fed Meeting The MSCI World Index of 23 developed nations has climbed 65 percent since March 9 as the G-20 committed about $12 trillion to revive growth and the Federal Reserve kept overnight borrowing costs near zero to unlock credit markets. The collapse of subprime mortgages spurred $1.6 trillion in writedowns and losses at the world’s biggest financial firms. Fed Chairman Ben S. Bernanke’s efforts to stoke a U.S. economic recovery may be undermined by the central bank’s other goal of restoring the banking system to health. The Federal Open Market Committee, at the conclusion tomorrow of a two-day meeting, will probably maintain its assessment that “tight” bank credit is impeding growth. Economists surveyed by Bloomberg News unanimously forecast the Fed will leave its benchmark interest rate unchanged. Carnival may extend this year’s 37 percent rally in London trading after Bank of America added the shares to its “Europe 1” list. Samsung Electronics, the world’s largest computer-memory chipmaker, gained 3.4 percent to 825,000 won in Seoul. Citigroup raised its price estimate to 1,030,000 won from 900,000 won on expectations earnings will benefit from growing demand for computer-memory chips, according to a note yesterday. Separately, the price of the benchmark computer-memory chip climbed 1.1 percent yesterday to the highest level since Aug. 27, 2008, according to Dramexchange Technology Inc. U.S. Steel, the largest U.S.-based steelmaker by sales, was raised to “neutral” from “underperform” at Bank of America, which said in a report that “improving utilization should return the company to profitability in 2010.” Vivendi, Novartis Vivendi SA, owner of the world’s biggest music company, may decide at an Oct. 14 board meeting to sell its stake in NBC Universal, according to a person with knowledge of the situation. Vivendi spokesman Antoine Lefort declined to comment yesterday on the company’s plan for NBC Universal and on the board meeting. Novartis AG may advance. Chief Executive Officer Daniel Vasella said the company is “very confident” about its drugs pipeline, which is “delivering nicely.” Vasella commented yesterday in an interview on the sidelines of a summit between Swiss and Russian business leaders and politicians in Bern. Cadbury Plc has approached the U.K. Takeover Panel to force Kraft Foods Inc. to either walk away from the offer for six months, or make a formal proposal, the Financial Times reported today, citing people close to the matter.

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