Asian-Pacific benchmarks advanced to close higher as the Japanese Nikkei rose 0.6%, rebounding from two-day losses and reaching a four-year record high of 14,170,087 on stronger dollar, exporter issues and financial stocks buy-back. Across the region, South Korea’s Kospi climbed 1.1% on surging Korean Exchange Bank, Hong Kong’s Hang Seng gained 0.2%, and Singapore Straits Times added 0.6%.

European markets traded lower at mid-day, pressured by U.S. stock markets, weaker resource stocks and earnings from the German power giant RWE, and Swiss Adecco. The German DAX 30 lost 0.8%, the French CAC 40 shed 0.9%, and London’s FTSE 100 fell 0.7%.

OIL, METALS, CURRENCIES

Crude oil traded below $57 a barrel after slipping to a four-month low yesterday ahead of petroleum inventory report. Light sweet crude December delivery lost 19 cents to $56.79 a barrel. Heating oil traded at $1.6831 a gallon. Gasoline rose marginally to $1.4605. Natural gas gained 5 cents to $11.61 per 1,000 cubic feet. London Brent fell 23 cents to $54.95.

Gold prices advanced in European trading. In London the precious metal was fixed at $470.65 per troy ounce, up from $467.90. In Zurich gold advanced to $470.35 from $466.95. In Hong Kong gold rose $4.40 to close at $472.65. Silver traded at $7.72, up from $7.70.

The U.S. dollar traded higher against other major currencies. The euro was quoted at $1.1687, up from $1.1694. The dollar bought 119.42 yen, up from 118.99. The British pound traded at $1.7269, down from $1.7343.

EARNINGS NEWS

Charming Shoppes, Inc. (CHRS: chart), apparel retailer, announced that Q3 net profit soared 70% to 9 cents a share, from the comparable period last year, topping the analysts’ forecasts by a penny. Sales rose 22%. The company envisages Q4 earnings between 13 cents and 14 cents a share on same-store sales up 2% to 4%.

Tyco International (TYC: chart), industrial conglomerate, reported Q4 net income rose to 44 cents a share, double from 22 cents a share in the year-ago period on lower restructuring and divestiture charges at its fire and security division. Revenue was up 2% on a comparable basis. Earnings from continuing operations totaled 42 cents a share but missed analyst expectations of 46 cents a share.

D.R. Horton (DHI: chart), homebuilder, reported that Q4 net income rose 61% to $1.77 compared with last year’s result on 45% increase in revenue, beating analyst estimate of $1.63 cents a share. The company added that fiscal year 2006 earnings should be in a range of $5.22 to $5.32 a share on revenue of more than $15.5 billion, but kept its earnings forecast for the first quarter unchanged at between 90 cents and 95 cents a share.

Big Lots, Inc. (BLI: chart), retailer of closeout merchandise, posted Q3 net loss of 17cents per share, up from a net loss of 29 cents per share in the year-ago period. Net sales for Q3, increased 6.2% Comparable store sales increased 1.7% for Q3 consisting of a 5.0% increase in the value of the average basket and a 3.3% decrease in customer transactions. On a year to date basis, net sales rose 6.6%. Comparable store sales increased 1.5% for the year to date period with the value of the average basket increasing 4.4% and the number of customer transactions declining2.9%.

Zale Corp. (ZLC: chart), jewelry retailer, posted Q1 loss of 47 cents a share, down from a loss of 21 cents a share in the year-ago period, despite 1.2% revenue growth, missing analysts’ forecasts of a loss of 35 cents a share The latest results include a charge of 10 cents a share, related to the closing of about 30 of the company's Bailey Banks & Biddle locations. If not for this charge the company lost 36 cents a share. Same-store sales shed 1.2%. The company declared that its performance was hurt by its efforts to reposition the Zales brand.

The Talbots Inc (TLB: chart), specialty apparel retailer, posted Q3 earnings of 37 cents a share, down from profit of 49 cents a share in the same period last year, beating analyst estimate by a penny. The year-ago results include a tax benefit of or 8 cents a share. Sales increased 3% in Q3. Same-store sales dropped 2% in the period.

Helmerich & Payne Inc. (HP: chart), oil and gas company, posted Q4 earnings of 68 cents a share, up from a loss of 25 cents a share in the same period a year ago on revenue growth, missing analyst estimate of 71 cents a share. The latest results include a gain of a penny a share on the sale of certain securities, while the year-ago performance reflects an asset impairment charge of 63 cents a share, and a gain of 16 cents a share from securities sales.

Too Inc. (TOO: chart), specialty retailer of young girls' apparel, posted Q3 earnings of 48 cents a share, up from 33 cents a share in the year-ago on higher sales and merchandise margin improvement, beating analyst estimate of 43 cents a share. Sales rose 16% in Q3 and same-store sales advanced 8%.