US EQUITIES WEEK AHEAD: Consumer Confidence; AIG Nears Choice For Taiwan Business

A consumer confidence report due next week for December is expected to show U.S. consumers are becoming increasingly more optimistic -- with the index seen rising for the third month.

Meanwhile, directors of American International Group Inc. (AIG) are expected to confer Thursday to try to agree on a preferred bidder for its Taiwan business, according to people familiar with the situation.

While only a few companies are expected to report their quarterly earnings, Cal-Maine Foods Inc. (CALM) and Imperial Sugar Co. (IPSU) -- which both focus on food -- are expected to report higher sales for their latest results.

 
   Consumer Confidence, Chicago PMI December Data Due

Next week's economic reports will include The Conference Board's Consumer Confidence report on Tuesday and the Chicago Purchasing Managers' Index on Thursday.

Consumer confidence is expected to rise for a third consecutive month, according to Briefing.com, after the figure jumped to 54.1 in November from 49.9 the prior month. The November reading beat expectations by increasing to a five-month high.

The Chicago PMI is seen holding steady at 62.5, a figure that encouraged investors last month as signaling the manufacturing sector remains strong, although Briefing.com said there is some evidence that calls into question the stability of future production growth.

 
   AIG Nears Choice Of Taiwan Business Buyer

AIG directors are expected to meet Thursday to try to choose a preferred bidder for Nan Shan Life Insurance Co., according to people familiar with the situation. That choice likely will be announced next week, the people said.

AIG has been struggling to raise more than $2 billion by selling its Taiwan business as part of its broad sale of assets to help repay taxpayers for its financial-crisis-era bailout.

 
   Cal-Maine, Imperial Sugar Quarterly Results Expected

Cal-Maine, the largest U.S. producer and distributor of fresh shell eggs, and sugar refiner and marketer Imperial Sugar are among the companies expected to report their latest quarterly results.

Although a major recall of eggs rocked Cal-Mine's sector in the U.S. earlier this year, it had a minimal impact on the company's fiscal first-quarter results, as it came shortly before the period ended. The latest results will could be hurt more by the recall, although analysts polled by Thomson Reuters expect profit and revenue to rise.

Imperial Sugar, which earlier this month delayed its fiscal fourth-quarter results as it reviews whether some repair and maintenance costs should be recorded as capital spending, is expected to report a large increase in revenue, although the period's loss is seen widening.

 
   Stock Markets To Remain Open On New Year's Eve

The New York Stock Exchange will remain open on Friday, Dec. 31, as it is the end of both a monthly and yearly accounting period. Therefore, the exchanges will be open that day and also the following Monday.

However, CME Group Inc. (CME) -- the world's biggest futures exchange operator -- observes U.S.-recognized holidays, and thus trading for most of its products will be closed on Friday.

 
   Hyundai E&C Creditors Likely To Name Preferred Bidder

Creditors-turned shareholders of Hyundai Engineering & Construction Co. (000720.SE) are expected to name conglomerate Hyundai Motor Group the preferred bidder for their controlling stake in the construction firm next week, according to Korea Finance Corp. Chief Executive Ryu Jae-han. Korea Finance is one of nine Hyundai E&C creditors that are selling a collective 34.88% stake in Hyundai E&C.

--By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

--Dow Jones Newswires staff contributed to this report.

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