By James Langton

(November 6 – 09:45 ET) – With minimal economic data out this week and the U.S. election looming over markets, earnings will likely be the key market mover today. Traders are nervously anticipating earnings from tech bellwether Cisco Systems, due after the bell today.

A strong rally in Asia overnight should support the market today. As well the European Central Bank has intervened yet again to prop up the euro after German factory orders dropped sharply.

On the heels of that intervention and strength in telecoms and airlines, markets are generally positive. The London’s FTSE is up 28 points to 6,414. The German DAX has gained 18 points to 7,146. Only the CAC 40 in France is sliding a little, down two to 6,397.

In M&A news, C.I. Fund Management Inc. is offering $3.9 billion in cash and stock for Mackenzie Financial Corp., a 39% premium on Mackenzie’s average closing price over the past month.

TD Securities has acknowledged that it is in talks to acquire institutional house Newcrest Capital Inc.

EXFO Electro-Optical Engineering Inc. says it has entered into a definitive agreement to acquire Burleigh Instruments, Inc. for US$235 million in EXFO stock and US$40 million in cash. Burleigh is a privately held company, making DWDM wavelength measurement instruments and precision positioning equipment.

Finally, Amerada Hess Corp., the eighth-largest U.S. oil company, is buying Lasmo plc for US$3.5 billion in cash and stock.

Overnight in Asia, stocks rallied hard with the Japanese market missing out on last week’s late rally due to holidays. The Nikkei closed up 534 points to 15,371. The Hang Seng added 77 points to 15,671.

In other news, Biomira Inc. saw losses for the third quarter ended September 30 creep up to 23¢ a share from 21¢ a share in the year earlier period.

Abitibi-Consolidated Inc. is defending its executives, saying that claims of mismanagement by major shareholder Quebecor Inc. are without merit and a special committee is fully supportive of the firm’s management and chief executive John Weaver.