4:30PM NY; 11:30PM Frankfurt; 2:00AM Mumbai - GLOBAL MARKETS

Financial stocks led a mild advance in New York trading. Oil and gold are increasingly becoming focus of traders. Ebay reported 52% rise in earnings after the close. Volkswagen profit doubled on higher auto prices. Japan Tobacco finalized its purchase of Galllaher Group in the U.K. Essar Global based in India is to purchase its second steel company in less than a week in North America.


Yield on 10-year bond closed at 4.652% and the 30-year bond closed at 4.814%.

Gold gained 80 cents to close at $693.300 a troy ounce, silver decreased 4.5 cents to end at $13.975 a troy ounce and copper advanced $322.500 to close at $8090.000 per metric ton.

Oil advanced 3 cents to close at $63.130 a barrel and heating oil gained 0.880 cents to finish at 180.660 cents a gallon. Natural gas increased 7.9 cents to close at $7.497 per MMBtu. Gasoline went up 2.670 cents to end at 208.250 cents a gallon.

Asian markets closed mostly higher thanks to the exporters advance after upbeat U.S. economic data eased concerns over the economic growth outlook for Asia''s most important export market. Mining sector was lifted by higher metal price. The advancers were led by Japan with an increase of 0.80%, Taiwan with an advance of 0.55% and India with a gain of 0.48%. The decliners were led by Philippines with a decrease of 0.69%, Singapore with a loss of 0.44% and Thailand with a decline of 0.40%. Australia advanced by 0.75%.

European markets finished lower on weakness in mining and automotive sectors. The decliners were led by Norway with a decline of 1.08%, Germany with a decrease of 0.90% and U.K. with a loss of 0.74%. The only advancer was Switzerland with an increase of 0.55%.

Latin America markets finished mostly higher. The advancers were led by Brazil with a gain of 0.89% and Argentina with an advance of 0.57%. The only decliner was Mexico with a loss of 0.18%. Canada gained 0.31%.

2:30PM NY, U.S. Market Movers

AMR Corp. (AMR: chart), airline company, said that it swung to a profit of $81 million, or 30 cents per share, in the first three months of the year, compared to a loss of $92 million, or 49 cents per share, a year earlier. Revenue rose 1.6 percent, to $5.43 billion, slightly below the $5.46 billion forecast by analysts. American drew strength from its international operations, which saw stronger traffic, while the domestic business was weaker. Shares climbed 3.2%.

Espeed Inc. (ESPD: chart) shares climbed 10.1% after the shareholder of securities-trading software company eSpeed Inc., Chapman Capital LLC, called for the replacement of four eSpeed directors. Chapman Capital is the Los Angeles-based investment adviser to two funds that together own 9.3% of eSpeed''s Class A shares. Chapman also reiterated its previous demands that the board agree to an immediate auction of the company and collapse the dual voting ownership structure by converting all Class B common shares into Class A.

Genlyte Group Inc. (GLYT: chart), light manufacturer, said that for the first quarter it earned $35 million or $1.20 per share compared with $48.6 million, or $1.70 per share, for the same quarter in 2006. The 2006 quarter''s results included a $24.7 million tax benefit, that boosted the company''s earnings per share by 86 cents. Revenue rose 20% to $394.4 million versus $329.2 million in the year-ago period. The company said a combination of adding new products and maintaining price increases helped achieve higher sales and profit margins for the first quarter. Shares jumped 7.9%.

J.P. Morgan Chase & Co. (JPM: chart), banking company, said first-quarter net income increased more than 50% to $4.8 billion, or $1.34 per share, compared with $3.1 billion, or 86 cents per share in the year-ago period. Income from continuing operations came in at $4.8 billion, or $1.34 per share, compared with $3 billion, or 85 cents per share last year. Total net revenue climbed 25% to $18.97 billion. The company also increased its dividend by 12% to 38 cents per share and launched a $10 billion stock repurchase program. Shares climbed 3.8%.

Linear Technology Corp. (LLTC: chart), chipmaker, shares jumped 12% after the company posted in-line third-quarter earnings and announced a $3 billion share repurchase plan. For the period the company earned $98.6 million, or 32 cents per share, on revenue of $255 million. Analysts expected earnings of 32 cents per share on revenue of $254 million. During the year-earlier period, the company earned $110.6 million, or 35 cents per share, on revenue of $278.9 million.

OMI Corp. (OMM: chart), which owns and operates a fleet of crude oil tankers, shares rose 5.1% after the company agreed to be bought out by Teekay and Denmark''s TORM for $1.81 billion in cash.

Badger Meter (BMI: chart) shares sank 10.3% after the maker of flow measurement and control technology said fiscal first-quarter profit declined 39%, and widely missed Wall Street expectations. Net income declined to $2.6 million, or 18 cents per share, compared with $4.2 million, or 30 cents per share, during the same period last year. Earnings from continuing operations totaled $2.5 million, or 17 cents per share, versus $5.2 million, or 37 cents per share, a year earlier.

Cognex Corp. (CGNX: chart), which makes vision sensors used by manufacturers, said that its first-quarter profit plunged 47% from last year as sales declined. Net income for the quarter was $4.6 million, or 10 cents per share, down from $8.8 million, or 18 cents per share, for the first quarter 2006. Revenue was $50.9 million, down 14% from $59 million in the year ago period. Shares fell 6.5%.

Knight Capital Group Inc. (NITE: chart), which executes trades for institutional investors, said that its first-quarter profit slid 35% on lower revenue and a loss from discontinued operations. Net income fell to $31.9 million, or 31 cents per share, from $49.1 million, or 47 cents per share, in the prior-year period. Revenue for the quarter fell 12.8% to $241.7 million. On a continuing operations basis, profit was 32 cents per share. Shares fell 6.1%.

Syntel Inc. (SYNT: chart), information technology and outsourcing services provider, said its first-quarter profit climbed 28%, bolstered by higher revenue and better margins. The company lifted full-year expectations, but warned that second-quarter earnings and margins would be hurt by visa processing costs and salary increases in India. The company''s gross profit margin improved to 39.1 percent from 38.3 percent in the prior-year period. Shares fell 7.1%.