[R]4:30PM NY; 10:30PM Frankfurt; 3:00AM Mumbai - GLOBAL MARKETS[/R]
Popular averages dropped sharply after the Fed Presidents comments raised prospects of higher interest rates. European markets closed higher but are likely to open lower in the morning trading on Monday. In the last thirty minutes of trading in New York, stock indexes managed to recover some of the losses.

Yield on 10-year bond closed at 4.780% and the 30-year bond closed at 4.864%.

Gold gained $8.700 to close at $671.500 a troy ounce, silver advanced 12 cents to end at $13.890 a troy ounce and copper declined $19.000 to close at $5383.000 per metric ton.

Oil gained 19 cents to close at $59.900 a barrel and heating oil increased 1 cent to finish at 172.510 cents a gallon. Natural gas advanced 5.6 cents to close at $7.815 per MMBtu. Gasoline went up 2.170 cents to end at 161.500 cents a gallon.

Asian markets closed mostly higher, with Australia ending at a record high as natural-resource shares gained on rising oil prices, and Japan advanced on upbeat economic data. The advancers were led by Philippines with a gain of 1.56%, Japan with an increase of 1.23% and Thailand with an advance of 0.58%. The decliners were India with a loss of 0.77%, Indonesia with a decrease of 0.63% and Hong Kong with a decline of 0.28%. Australia gained 0.45%.

European markets closed higher as shares of DaimlerChrysler led the automotive sector higher after the company agreed to sell a stake in aerospace group EADS. The advancers were led by Switzerland with a gain of 0.68%, Italy with an increase of 0.60% and U.K. with an advance of 0.57%. There were no decliners.

Latin America markets ended lower with Brazilian and Mexican markets losing ground. The decliners were led by Brazil with a decrease of 1.49%, Mexico with a decline of 0.97% and Argentina with a loss of 0.27%. There were no advancers. Canada lost 0.71%.

[R]2:30PM NY, U.S. Market Movers[/R]

AptarGroup Inc. (ATR: chart) shares gained 7.4% after the maker of pump dispensers for fragrances and personal care products said that its fourth-quarter net profit increased to $27.2 million, or 77 cents per share, compared with $23.7 million, or 66 cents per share, in the year-ago period. Revenue climbed to $422.4 million versus $338.8 million in the same period a year earlier.

Applix Inc. (APLX: chart), business management software provider, said that its fourth-quarter net earnings increased to $6 million, or 34 cents per share, compared with $2.48 million, or 15 cents per share, last year. Revenue climbed to $16 million versus $11.1 million in the same period a year earlier. Shares climbed 14.8%.

Blue Coat Systems (BCSI: chart), Internet monitoring equipment maker, shares rose 12.8% after the company rose its expectation for third-quarter revenue of $45.5 million to $47.5 million. Blue coat had previously forecast revenue of $40 million to $45 million.

Hooker Furniture (HOFT: chart) shares jumped 15.1% after the furniture maker posted fourth-quarter earnings of $3.5 million, or 29 cents per share, including restructuring and asset impairment charges totaling $2.3 million, or 19 cents per share. Revenue climbed 0.9% to $91 million in the quarter.

Jaco Electronics Inc. (JACO: chart) shares jumped 11.9% after the company said that it swung to a second-quarter profit of $149,000, or 2 cents per share, from a year-ago loss of $7.4 million a year ago. The company said the turnaround was due to its strategy of marketing product lines from core vendors as well as tight cost controls. The distributor of electronic components, said revenue climbed 37% to $66 million. The company added it recently entered into a new credit facility that provides additional working capital and offers a lower interest rate than its previous agreement.

Mettler-Toledo International (MTD: chart), makes instruments used to inspect products and develop drugs, said that its fourth-quarter net earnings increased to $52 million, or $1.31 per share, compared with $44.2 million, or $1.04 per share, in the year-ago period. Revenue climbed to $462.3 million versus $411.2 million in the same period a year earlier. Shares were up 6.2%.

Primedia (PRM: chart), magazine publisher said its board authorized the company to explore the sale of its Enthusiast Media segment to help cut its debt load of more than a $1 billion. Shares of the company rose more than 22% to $2.02.
Zones Inc. (ZONS: chart) shares jumped 17.9% after the reseller of technology products said that its fourth-quarter net earnings increased to $2.98 million, or 20 cents per share, compared with $1.97 million, or 14 cents per share, in the year-ago period. Revenue climbed slightly to $159.9 million versus $159.8 million in the same period a year earlier.

Alcatel-Lucent (ALU: chart) said Friday it planed to cut another 3,500 jobs after it swung to a loss in the fourth quarter, the first for which the newly merged telecom equipment maker reported combined earnings. Shares fell 3.1%.

Gateway Inc. (GTW: chart), computer maker, swung to a profit of $8.8 million, or 2 cents per share, after posting a loss in the same period a year ago, but revenue fell 9% to $1.02 billion from $1.12 billion a year ago. Gross margins also retreated to 5.2% from 6.2% in the prior year. Shares fell 10.2%.

[R]1:00PM European markets closed higher, driven by DaimlerChrysler.[/R]
European stocks gained ground on Friday, with DaimlerChrysler leading the automotive sector higher. DaimlerChrysler rose 3.2% after the automaker announced a deal to lower its stake in Airbus owner EADS from 22.5% to 15% as part of an effort to keep a balance between German and French ownership of the European aerospace group. DaimlerChrysler was also upgraded at Citigroup to buy from hold. Oil and resources shares also provided support as the price of crude oil reached nearly $60 a barrel. Oil company BP added 0.6%, while mineral extractor BHP Billiton climbed 1.6%. Outside the sector, Altran Technologies shares rose 5.9% as the technology-consulting company reported higher Q4 revenue. In deal news, British bus company First Group rose 6.2% after it agreed to buy Laidlaw International the for $3.6 billion. Currency moves were in focus ahead of a Group of Seven meeting of finance ministers in Germany. The German DAX 30 gained 0.5% at 6,911.11 and the U.K.''s FTSE 100 rose 0.6% at 6,382.80, with both indexes hitting six-year highs in the session. The French CAC-40 added 0.5% at 5,692.45.

The U.S. dollar traded mixed against its major currency rivals. The euro was quoted at $1.2990, down from $1.3038. The dollar bought 121.71 yen, up from 121.06. The British pound was quoted at $1.9479, down from $1.9583. European gold prices advanced. In London, gold traded at $663.30 per troy ounce, up from $655.30. In Zurich, the precious metal traded at $661.95 per ounce, up from $653.80. Silver closed at $13.82, up from $13.68.