4:00PM New York, 10:00PM Frankfurt, 1:30 AM Mumbai – New York rallied in the late afternoon. European markets closed higher on earnings from Unilever, Credit Suisse, and Barclays. BoE and ECB left rates unchanged.

Dow Jones closed up 99.50 to 13,461.87, Nasdaq advanced 22.11 to 2,575.98, and S&P 500 increased 6.33 to 1,472.15.

FTSE 100 Index in the U.K. closed up 49.70 to 6,300.10, in Tokyo Nikkei 225 closed at 16,984.11, up 113.13, and Brazil iBovespa 417.50 to close at 54,651.37.

Yields edged higher on 10-year U.S. bonds and closed at 4.76% and 30-year bond rose to close at 4.91%.

Crude oil increased 33 cents to close at $76.86 per barrel, natural gas closed 25 cents lower to $6.10 per mBtu, and gasoline futures decreased 0.66 cents to close at 203.66 cents per gallon.

Gold traded higher $0.70 to close at $676.60 per ounce, silver down 6 cents to close at $12.95 per ounce, and copper futures gained $159 to close at $7,978 per metric ton.

In New York trading techs and retail stocks rallied lifting the averages. CheckFree soared 23% on the news that the company has agreed to be acquired by Fiserv Inc. for $4.4 billion or $48 per share. The stock closed at $45.60. Eastman Kodak gained 4.5% after reporting profit and CVS/Caremark jumped 2.4% after it reported second profit nearly doubled. Among Dow stocks Alcoa led the decliners and Honeywell International led the gainers. Retailer Target Corp jumped 4.3%.

Accredited Home Lenders plunged 35% after the company said that it may seek bankruptcy protection if lenders keep demanding higher collateral for its subprime loans. Getty Images plunged 20% after reporting earnings below estimates and rating cut by Deutsche Bank. The stock closed at $36.14, or 30-month low. Oil stocks retreated.

Two of the three IPOs listedn in New York closed higher. Genpact, (G) formerly business services division of General Electric, based in India, priced 35.3 million of its shares in initial public offering at $14 per share. The stock jumped 19.6% on its first day in trading to close at $16.75 on 18.49 million share volume. Dolan Media (DM) priced 13.5 million shares at $14 per share. The stock traded up 8% to close at $17.72 on 6.4 million trading volume. KBL Healthcare Acquisition (KHA) closed priced 15 million shares at $8 per share. The stock closed at $7.27 in thin volume.

In Asian Markets rebounded for the second day after a week of volatility. Shanghai led the region with a gain of 2.5% followed by 1.02% rise in Australia, 0.7% gain in Japan, Indonesia, and Taiwan. Philippines lost 2%, Malaysia declined 0.5%, and Thailand dropped 0.4%. Property stocks rallied in Japan and China. Banks dropped in Hong Kong. Auto stocks fell in India. Banks led the gainers in Australia.

Latin American Markets closed higher across the region led by 1.15% rise in Mexico, 0.85% gain in Brazil, 0.4% advance in Argentina, and 0.02% inching in Chile. Banks and telecom stocks closed higher in Mexico and Brazil. Of the total of 59 stocks in iBovespa 39 closed higher, 23 closed lower, and the rest were unchanged.

Of the stocks listed with Bovespa index, water distribution company SABESP jumped 5.6%, Brasil Telecom increased 5%, and Telemar and Telenorte Leste gained 3%. Votorantim and Cosan fell 2% and led the decliners.


1:00PM NY, 5:00 PM Frankfurt European markets gained ground, led by Unilever Nokia.

European stock markets ended higher on Thursday, led by gains in the shares of Unilever and Nokia. Financial services stocks also contributed to the upward mood after several leading banks including Credit Suisse reported strong profit growth. Gains on Wall Street and unchanged interest rates gave additional boost to European stocks. The BoE kept the interest rates unchanged at 5.75% and the ECB left interest rates on hold at 4%. Both Germany and the U.K closed up 0.8%, while France advanced 0.5%.

Nokia Corp surged 8.2% after the mobile phones maker posted robust Q2 profit and its highest operating margin in three years. Shares of financial services company Credit Suisse Group rose 1.9% after it reported Q2 profit increase of 48% on 45% higher revenue.

In Frankfurt Fresenius Medical Care rose 3.9% after the company posted a better-than-expectged profit increase and raised its 2007 forecast. Deutsche Telekom AG and Deutsche Bank AG were also among notable gainers, rising 2.7% and 1.7%, respectively.

In Paris the banking sector posted gains, with shares of Societe Generale rising 4.3% after it reported Q2 profit growth of 33% on 15% higher revenue.. However, NYSE Euronext shares slipped 0.7% after the company said Q2 net income more than doubled to $161 million. Outside the sector, France Telecom shares gained 3% after reporting a 41% profit rise

In London U.K. bank Barclays rose 1.3% after it said its first-half net profit rose 14% as growth from its investment banking operations offset a decline in profit at its credit card unit. Among other movers, pub operator Mitchells & Butler dropped 4.7% after it revealed that a plan to separate out its property assets from its operating divisions has been put on hold due to uncertainties in the credit market. Food giant Unilever, climbed 4.3% after it forecast 2007 sales at the top end of its 3% to 5% view.