1:00PM NY, 5:00 PM Frankfurt European markets ended higher for a third session in a row, led by mining and telecoms stocks.

European stock markets finished in the positive Thursday for a third consecutive session, boosted by upbeat U.S. jobs data, as well as strength among automotive, mining and telecoms shares. Alcatel-Lucent limited the upward move after the mobile phone maker lowered its full-year revenue outlook. Among regional markets, France led advancers with a gain of 1.1%, followed by the U.K., up 0.9% and Germany, rising 0.8%.

In Frankfurt automakers were leading gainers, with Porsche rising 3.2% and DaimlerChrysler moving up 1.2% Other notable movers to the upside included Deutsche Boerse which added 3.3%, steelmaker ThyssenKrupp, up 2%, and RWE, moving up1.4%.

In Paris mining stocks gained, paced by ArcelorMittal which rose 4.5% after announcing a share buyback program. Vallourec surged 8.8% on reports that Russia''s OAO Gazprom is in advanced talks to buy the company. Among other top gainers, Lagardere climbed 4.7% after the magazine publisher reported a 78% profit rise for the first half and lifted its annual operating profit guidance. France Telecom which gained 1.5%. The upward move was limited by Alcatel-Lucent which dropped 8.7% after the telecom equipment maker cut its sales outlook.

In London miners paced the gains. American gained 3.3%, while BHP Billiton Ltd., the world''s largest mining company, rose 2.6%. Oil companies continued to benefit from surging oil prices, with Royal Dutch shell rising 1.8%. Telecoms company Cable & Wireless rose 4.5% after it received an analyst upgrade from Cazenove.


11:30AM U.S. market averages rallied. Financial stocks gained

U.S. market averages rallied, with the Dow Industrial posting triple-digit gains. Stocks advanced, as upbeat corporate news and growing optimism of interest-rate cuts offset surging oil prices and record-low U.S. dollar. Investors also cheered news of lower-than-anticipated increase in the initial jobless claims last week.

The blue chips were led higher by more than 6% increase in the shares of both General Motors (GM: chart) and McDonald''s. The car maker advanced on a broker upgrade and progress in talks between automakers and workers over health care costs. Fellow member Ford (F: chart) climbed 3.3% on the news. Macdonald''s (MCD: chart) shares rose after the fast-food retailer lifted its dividend by 50%.

By sectors, steel and oil stocks moved significantly higher. Alcoa (AA: chart) climbed 2.9% and Exxon Mobil (XOM: chart) rose 1.3%, helping to push the Dow higher. Financial stocks gained, driven by interest-rate reduction optimism. Merrill Lynch (MER: chart) rose 3.2%, Bear Stearns (BSC: chart) climbed 4%, and Goldman Sachs (GS: chart) added 2.8%. Pharmaceutical stocks continued their recent upward move, with Merck & Co. (MRK: chart) rising 1.1% on broker upgrade of its stock. Technology stocks and small-capitalization issues showed weakness.

Light, sweet crude fell 66 cents to $79.25 a barrel. The dollar gained some ground vs. the euro which recently traded at $1.3874.In late morning trading, the Dow rose 144.45, or 1.09%, to 13,436.10. The Standard & Poor''s 500 index rose 14.48, or 0.98%, to 1,486.04, and the Nasdaq composite index rose 13.08, or 0.50%, to 2,605.15. Bond prices fell. The yield on the 10-year Treasury note, which moves opposite its price, rose to 4.46% from 4.41% late Wednesday.

10:00AM New York - 7:30PM Mumbai – Suzlon plan to double its production in three years. Reliance and government agree on natural gas price.

Sensex in Mumbai trading gained 109.08 or 0.70% to close at 15,614.44. CNX Nifty gained 0.7% or 32.10 to close at 4,528.95. Rupee recovered to 40.60 against dollar from 40.65 in Friday trading. Market indexes opened higher at the opening but closed lower in a familiar pattern in the last three months of trading. Political worries dogged traders.

Of the stocks trading on BSE, 1,647 gained, 1,123 declined, and 66 closed unchanged. Daily turnover on the exchange declined to 5,257 crore rupees compared to 5,391 crore rupees a day ago. In trading on National Stock Exchange volume increased to 11,075 crore rupees from 10,835 crore rupees a day ago. Oil price at record level lifted stocks of sugar companies.

Of the 30 stocks in the Sensex 20 rose and 10 fell. Maruti Suzuki led the gainers with a rise of 3.7% to 891 rupees. Hindustan Lever led the decliners with a fall of 1.0% to 215 rupees.

Reliance Industries and a group of ministers appointed by the Government of India agreed on natural gas purchase price of $4.20 Mbtu for five years. The natural gas from Krishna Godavari basin will be distributed by government agencies. Reliance had asked for $4.33 Mbtu and negotiations between the government and the company had dragged for more than a year. Reliance in trading increased 0.6% to 2,025 rupees on 6.2 lakhs shares trading volume.

Jindal Steel & Power surged 8% to 4,690 rupees on the enthusiasm that the Bolivian iron ore mining project will receive government approval. Suzlon Energy jumped 3% to 1,379 rupees after the company said that it plans to invest 1 billion euros to double its wind turbine production capacity to 5,700 mw from 2,700 mw.

Western India Shipyard jumped 5% to 19 rupees after a deal with ABG Shipyard. The secured lenders committee and ABG are looking for ways to revive the ailing Western India Shipyard.
Auto stocks jumped higher led by 1.3% increase in Mahindra & Mahindra to 707 rupees and Tata Motors to 694 rupees, and 1.1% gain in Baja Auto to 2,418 rupees.

Reliance Communications jumped 1.9% to 552 rupees after the news that the company is selected to provide super high speed Internet data bandwidth between Tata Institute of Fundamental Research in Mumbai and CERN, European Organization for Nuclear Research in Geneva, Switzerland.

Software export companies rebounded after two weeks of slump. Tata Consultancy Services increased 1.36% to 1,030 rupees, followed by Satyam Computers gaining 1.27% to 434 rupees, and Wipro up 1.2% to 458 rupees. Infosys Technologies added 0.7% to 1,833 rupees. Of the smaller companies Mphasis led the gainers with a rise of 4% to 295 rupees and Tech Mahindra advanced 2.2% to 1,309 rupees.