4:00PM NY; 10:00PM Frankfurt; 2:00AM Mumbai - GLOBAL MARKETS

The Federal Reserve Bank left short term rates unchanged at 5.25% and noted that inflation remains at elevated level. Oil price in New York declined on weekly inventory report. Gold and silver price fell. European stocks closed higher on merger speculation in mining sector. Venezuela lost nearly 35% in last two trading days. Brazilian banks continue to climb higher and increased consumer lending.

Yield on 10-year bond closed at 4.659% and the 30-year bond closed at 4.829%.

Gold lost $4.900 to close at $682.500 a troy ounce, silver decreased 13 cents to end at $13.470 a troy ounce and copper declined $160.000 to close at $8210.000 per metric ton.

Oil lost 71 cents to close at $61.550 a barrel and heating oil declined 1.410 cents to finish at 181.580 cents a gallon. Natural gas increased 8.3 cents to close at $7.720 per MMBtu. Gasoline went up 3.150 cents to end at 223.600 cents a gallon.

Asian markets closed higher as investors sold NTT DoCoMo and other blue-chip stocks ahead of the Federal Reserve''s meeting on interest rates. The advancers were led by Indonesia with a gain of 0.75%, South Korea with an advance of 0.68% and Hong Kong with an increase of 0.67%. The decliners were Thailand with a decline of 0.92%, Taiwan with a decrease of 0.53% and Malaysia with a loss of 0.31%. Australia gained 0.59% lifted by talk of a possible takeover in the global-resources sector.

European markets finished higher as deal-related gains for miner Rio Tinto and well received earnings from BNP Paribas outweighed auto- and tech-sector declines and caution before a U.S. Federal Reserve decision on interest rates. The advancers were led by Switzerland with an increase of 0.54%, Italy with an advance of 0.52% and Germany with a gain of 0.45%. The decliners were Netherlands with a loss of 0.26% and U.K. with a decrease of 0.01%.

Latin America markets finished higher ahead of a U.S. Federal Reserve announcement on American interest rates. The advancers were led by Brazil with a gain of 1.98%, Mexico with an increase of 1.16% and Argentina with an advance of 0.56%. Venezuela fell another 1% after dropping a whopping 33% a day ago. Caracas exchange suffered heavy losses due to delisting of CAN TV and Electricidas de Caracas.

Canada lost 0.02% due to declines in the financial services and energy sectors. Research in Motion (RIMM: chart) gained $8.07 after rising $6.55 a day ago.

2:30PM NY, U.S. Market Movers

Barnes Group Inc. (B: chart), metals manufacturer and industrial supplies distributor, said that its first-quarter net income increased to 50 cents per share compared with 36 cents per share in the year-earlier period. Sales climbed 20% to $360.7 million. The aerospace-parts group lifted its fiscal-year earnings estimate to a range of $1.74 to $1.83 per share, from a range of $1.53 to $1.60. As a result, shares of the company climbed 13.1%.

Brightpoint Inc. (CELL: chart), cell phone distributor, posted a sharp decline in its first-quarter profit, as gross margins retreated due to partly to a shift toward lower-margin distribution. The company earned $1.8 million, or 4 cents per share, down 79% compared with $8.7 million, or 18 cents per share, during the same period a year ago. Revenue climbed 14% to $641.6 million from $564.6 million. Of this, distribution revenue grew 17% to $564 million, while logistic services revenue declined 8 % to $74.6 million. Shares climbed 9.4%.

EFunds Corp. (EFD: chart) shares surged 12.1% after the provider of electronic payment services said it has been approached by parties who have expressed a desire to explore possible strategic alternatives. The company has offered to Goldman, Sachs & Co. and BlackRock Inc. to assist it in exploring all of its options, including potential merger opportunities. EFunds also said that its first-quarter net income declined to $10.5 million, or 22 cents per share, compared with $10.7 million, or 23 cents per share, in the year-ago period. Revenue decreased to $134 million versus $139.7 million last year. The company now expects revenue and earnings to trend toward the lower end of its previously forecasted ranges.

Leap Wireless International Inc. (LEAP: chart), cell phone service provider, shares climbed 6.6% after the company said that it swung to a first-quarter loss of 12 cents per share from a year-earlier profit of 29 cents per share, as expenses, including those associated with acquiring new customers, increased 56%. The company''s revenue climbed 46% to $389.4 million.

Macrovision Corp. (MVSN: chart), which makes copy protection software for music labels, software companies, film studios and others, said that its first-quarter profit more than doubled, as services revenue rose sharply and the company''s tax bill shrank. Net income rose to $5.7 million, or 11 cents per share, from $2.5 million, or 5 cents per share, in the year-ago period. Revenue rose to $65.2 million from $57 million last year. Services revenue climbed 40% and the company''s tax bill fell to $878,000 from $6.3 million a year ago. Shares climbed 15.6%.

Maximus Inc. (MMS: chart), government services provider, said that its second-quarter earnings tumbled 73% because of $6.1 million in legal expenses. For the quarter Maximus earned $2.4 million, or 11 cents per share, compared with $8.9 million, or 41 cents per share, in the year-ago quarter. Revenue declined less than 1% to $179.1 million, compared with $179.8 million in the year-ago period. The company said sales in last year''s second quarter included $6.9 million in corrections and voter hardware revenue that has been divested. Shares climbed 6.4%.

Allscripts Healthcare Solutions Inc. (MDRX: chart), which makes prescription-management software, said that its first-quarter profit more than tripled on a jump in revenue and surge in income tax benefits. The company earned $4.5 million, or 8 cents per share, compared with a profit of $1.3 million, or 3 cents per share, during the same period a year prior. Revenue rose 54% to $65 million from $42.2 million a year ago. Shares fell 10.6%.

Cisco Systems Inc. (CSCO: chart) shares went sharply down 6.6% after the company reported its third-quarter results, but analysts continued to see the tech bellwether as best positioned to benefit from growing demand for networking equipment. Third-quarter profit rose 34% on the growing appetite of corporate customers and Internet-service providers for its networking gear.

Hoku Scientific Inc. (HOKU: chart), materials science company, focused on clean energy technologies, recorded a first-quarter net loss of $1.74 million, or 11 cents per share, compared with a year-ago net profit of $508,000, or 3 cents per share. Excluding certain items, the company lost $1.2 million, or 7 cents per share, in the first quarter. Revenue declined to $1.14 million against $1.34 million in the comparable period last year. Shares fell 12.3%.

SWS Group Inc. (SWS: chart) posted a 10% drop in third-quarter profit from a year ago, when the results benefited from a tax gain. The investment and financial services holding company reported net income of $7.6 million, or 28 cents per share, compared with net income of $8.4 million, or 32 cents per share, in the year-ago period. Shares fell 14.9%.