By James Langton

(January 15 – 09:00 ET) – Trading promises to be relatively quiet today, with U.S. markets closed for Martin Luther King Jr. Day.

There are no major economic numbers out today, although Canadian new motor vehicle sales for November were reported up 3.4%, far ahead of the modest rebound of 2% that was expected. A partial recovery in truck sales drove the numbers.

In Europe, stocks are mixed in light trading, with oils up on commodity price gains. In early trading London’ s FTSE is up 19 points to 6,184. In Paris, the CAC 40 is down just one point to 5,833. The German DAX is up 45 points to 6,535.

There’s plenty of M&A news and rumour today. The Wall Street Journal is reporting that Nestle SA may buy Ralston Purina Co. for US$10 billion in cash.

Schneider Electric SA is buying Legrand SA for US$7.7 billion in stock and assumed debt, to boost its industrial electrical equipment business.

Perfetti SpA, a private Italian candy company, is buying Van Melle NV for US$1 billion, including assumed debt. Van Melle makes Mentos and Fruittella.

Finally, Telesp Celular Participacoes SA, Brazil’s biggest cell phone firm, is buying control of Global Telecom SA for US$1.21 billion in cash and assumed debt.

Overnight Asian markets were light movers, too. Japan’s Nikkei added 158 points to 13,506. In Hong Kong, the Hang Seng dropped just two points to close at 15,294.

In other business news, Bombardier Aerospace is announcing a $2 billion order for up to 128 CRJ200 aircraft from Utah-based SkyWest Airlines. The transaction includes 64 orders (35 firm orders and 29 conditional orders) plus 64 options. The value of the initial 64 orders is estimated at $2 billion.

Mitel Corp. is establishing equity in a new photonics company, Optenia. The new venture will focus on reducing the cost of bandwidth distribution in optical networks. Moris Simson is leaving his job as Mitel’s senior vice president, strategy and corporate development to become Optenia’s new CEO.

Maple Leaf Foods has announced an agreement to acquire Schneider Corp.’s fresh pork operations in Manitoba. The transaction, which is expected to close in late February, carries a price of $34 million for fixed assets and approximately $10 million for net working capital. The company expects the acquisition to be accretive to earnings in 2001.