European markets traded below the flat line at mid-day, reflecting weaker automakers and oil stocks, lowered earnings outlook from computer giant Dell, and also awaiting the U.S. Fed Reserve decision on interest rate hike. The German DAX 30 declined 0.4%, the French CAC 40 lost 0.2%, and London’s FTSE 100 fell 0.2%.

ENERGY, METALS, CURRENCIES

Crude oil futures further declined below $60 a barrel on broad-based selling of oil stocks, caused by warmer weather forecasts. U.S. light sweet crude December delivery fell 15 cents to $59.61 on the Nymex. Heating oil slipped to $1.8180 a gallon, while gasoline slightly rose to $1.5950. London Brent lost 14 cents to $57.86 on London’s ICE Futures Exchange.

Gold traded mixed in Europe. In London gold was fixed at $465.55 bid per troy ounce, up from $465.40. In Zurich the precious metal traded at $465.48, down from $465.60. In Hong Kong gold prices fell $6.30 to close at $465.95. Silver opened at $7.54, down from $7.63.

The U.S. dollar traded mixed against major currencies ahead of U.S. Fed Reserve decision on interest rate. The dollar rose to a two-year high against the yen, trading at 116.50, up from 116.35. The euro was quoted ar $1.2088, up from $1.1984. The British pound stood at $1.7696, up from $1.7985.

EARNINGS NEWS

Colgate-Palmolive Co (CL: chart), maker of consumer products, reported a Q3 profit of 67 cents per share, up from 58 cents a share in the year-ago period on stronger sales and the benefits of a restructuring program, in line with analyst expectations of 67 cents per share.

Viacom Inc. (VIA: chart), media conglomerate, posted a Q3 net income of 45 cents per share, up from a loss of 28 cents per share in the same period last year on 10% revenue growth. If not for special items, the profit of 47 cents per share tops analysts'' forecasts of 45 cents per share.

Entergy Corp (ETR: chart), electric power production company, reported Q3 net income of $1.65 a share, up vs. $1.22 a share in the year period on revenue growth and especially on higher usage of air-conditioning linked to unusually warm weather, beating analysts'' estimate of $1.58 a share. The company added that it continues to target annual earnings growth in the 5% to 6% range but that it is unable to affirm its 2005 outlook due to the impact of recent hurricanes.

Procter & Gamble (PG: chart), consumer goods retailer, reported Q3 earnings of 77 cents a share, up from 70 cents a share a year-earlier, beating analyst estimate by a penny. Sales rose 8% in Q3. The year-ago results include a gain of 3 cents a share from a unit sale. P&G envisages earnings of 66 to 69 cents a share in the December quarter, including Gillette''s operations, with sales growth of 23% to 26%.

CMS Energy (CMS: chart), energy services company, posted Q3 loss of $1.21 a share, down from a quarterly profit of 34 cents a share in the year-earlier period despite revenue growth. After breaking out a charge of $385 million for higher natural gas costs at its Midland Cogeneration plant, CMS stated earnings totaled 54 cents a share, up 11 cents a share in the year-ago period, beating on that basis analyst estimate of of 16 cents a share.

TRW Automotive Holdings Corp.(TRW: chart), automotive systems supplier, reported quarterly earnings or 10 cents a share, down from 13 cents a share in the year-earlier period despite 6.5% revenue growth, topping analysts’ forecasts of 2 cents a share. Debt rose from the previous quarter on the impact of seasonal factors. The company predicts Q4 earnings of 23-38 cents a share.

Marsh & McLennan Cos. (MMC: chart), insurance broker, announced that Q3 net income advanced to 12 cents a share, up from 4 cents a share in the same period last year. Excluding special items, earnings per share in Q3 amounted to 35 cents a share, down from 42 cents a share a year ago, missing analyst expectations of 38 cents per share.

Rowan Cos. (RDC: chart), an offshore driller, reported an almost eight-fold rise in Q3 net income to 67 cents a share, up against 9 cents a share in the year-ago period on revenue growth, beating analyst expectations of 42 cents a share. Q3 included gains on asset sales and a hurricane-related damage loss, which combined to contribute 18 cents a share. The company announced that its 97% of its offshore rigs were operational in Q3, unchanged from a year ago, and its average daily rates per rig in the Gulf of Mexico advanced 60% from Q3 last year.

Martin Marietta Materials Inc. (MLM: chart), producer of aggregates for the construction industry, reported that Q3 net income advanced to $1.65 a share, up from $1.12 a share in the same period last year on revenue growth, beating analyst estimate of $1.44 a share. The company stated that income from continuing operations rose to $1.61 a share from $1.10 a share.