[R]4:30PM NY, 10:30 PM Frankfurt, 2:00AM Mumbai – Global Markets[/R]

Three popular averages gained for the second day in New York trading on a rise in energy, home builders and tech stocks. India, Hong Kong, South Korea, Singapore and Indonesia closed at record high. Germany and Australia traded at intra-day record highs. Brazil and Mexico traded near record levels.

Yields edged lower on 10-year U.S. bonds and closed at 5.114% and 30-year bond rose to close at 5.214%.

Crude oil gained $1.37 to close at $73.87 per barrel, natural gas closed up 16 cent to $6.66 per mBtu, and gasoline futures down 4.2 cents to close at 222.48 cents per gallon.

Gold gained $6.20 to close at $667.30 per ounce, silver lost 7 cents to close at $13.11 per ounce, and copper futures lost $111 to close at $7,935 per metric ton.

Averages in the U.S. gained for the second days after surging on same store sales data a day ago. June retail sales, reported today, dropped 0.9% from revised 1.5% in May. Import prices gained 1% in June on the back of 1.1% rise in May.

Dow Jones added 45.52 to 13,907.25, Nasdaq gained 5.27 to 2,707, and S&P 500 added 4.80 to 1,552.50. A rise in crude oil lifted energy stocks, home builders gained on rumors of Warren Buffet purchase, and share buyback supported General Electric, Amgen and Paychex.

General Electric (GE: chart) reported second quarter earnings of 54 cents per share or $5.4 billion, a rise of 13% from $4.8 billion or 46 cents per share. The sales rose 12% to $42.3 billion. The company also said that it will sell its sub-prime mortgage division, WMC Mortgage, after reporting division losses of $182 million. General Electric also lifted its stock buyback program to $14 billion from $12 billion.

Home builders stocks were lifted on the rumors that Hovnanian Enterprises (HOV: chart) stock may be purchased by Warren Buffet, value investor. The stock jumped 12% lifting other builders. Centex (CTX: chart) surged 5%, Toll Brothers (TOL: chart) and Lennar Corp (LEN: chart) jumped 4%, and D R Horton (DHI: chart) gained 2.6%.

Energy stocks rallied for the third day this week on 1.8% rise in crude oil prices. The unscheduled maintenance and pipeline shutdown in the North Sea lifted crude oil. Exxon Mobil jumped 0.8% and ConocoPhillips (COP: chart) gained 1.8%, however, Stat Oil, the Norwegian oil company lost 0.3%.

Latin American Markets closed higher across the region with a rise metal and energy prices, gain in averages in New York and Europe. Mexico and Chile led the region with a gain of 0.4% followed by 0.04% rise in Brazil. Argentina edged fraction lower 0.06%. Chilean peso gained 0.2% after the central bank raised key overnight interest rate by 0.25% to 5.25%.

MercadoLibre, Latin American online marketplace, plans to sell 16.1 million shares between $16 and $18 per share. The $335 million IPO will be listed in New York. The Buenos Aires, Argentina based company reported 54% jump in quarterly earnings in the first quarter to $1.1 million and $1.1 million for the year 2006. Ebay will keep its stake of 19% after the offering, Goldman Sachs will lower its stake to 1% from 5.4%, and J P Morgan venture fund will reduce its holding to 1.8% from 15%.

In Sao Paulo trading iBovespa gained 31.11 points to close at 57,644.16. Retailers, banks, and steel and mining stocks led the charge. CSN surged 5.38%, Pao de Acucar jumped 5.32% followed by a rise of 4% banks Bradeso and Itau. Lojas Renner and Sadia gained 2.2%. Uniao de Bancos Brasileiros (UBB: chart) traded 2.7% lower after gaining nearly 7% on its credit card company Redecard raising 4.1 billion reais. Two largest shareholders of the company are UBB and Banco Itau.

In Mexico City trading IPC index gained 125.41 to 32,386.51. Of the 30 stock IPC index 16 stocks closed higher. Walmex led the rise with a gain of 1.74% followed by a rise of 1.5% in Televisa, and 1.1% in Kimberly Clark. Cemex gained 1.1% despite losing a case in Australia. The court ruled that the company will have to pay dividend to recently acquired Rinker Group share holders who sold stocks between April 10 and May 7. Carso Telecom and Grupo Finance Banorte dropped 1%.


[R]1:00PM NY, 5:00 PM Frankfurt European markets advanced, led by tech shares.[/R]

European stock markets finished higher for a second straight session, lifted by strength in the shares of ASML Holding NV and Nokia Oyj. The gains followed a better-than-expected earnings report from semiconductor Samsung Electronics Co. Germany advanced 0.5% at 8,092.77, followed by the U.K. with a gain of 0.3% at 6,716.70, and France up 0.2% at 6,117.96.

Among the strongest European gainers, ASML, a semiconductor-equipment maker, rose 1.7% and Nokia, the world's largest mobile-handset maker, added 0.9%. Swedish Saab rallied 6.3%.

In Frankfurt the index hit a record intraday high, boosted by strength in the financial-services sector and gains in the shares of chemicals and tech stocks. Chemicals group BASF was a notable gainer, rising 1.9% after UBS lifted its price target to 105 euros from 92 euros. Other strong advancers included technology firm SAP, up 1%, and insurer Allianz, which rose 1.2%. Deutsche Bank advanced 1.5% and Munich Re added 0.7%.

In Paris shares in cosmetics giant L'Oreal dropped 4.2% after the group reported a mixed performance in the French and German markets during the first half. Electric control maker Schneider Electric rose 1.5% after Citigroup upgraded it to buy from hold.