4:30PM NY; 10:30PM Frankfurt; 2:00AM Mumbai - GLOBAL MARKETS

Yield on 10-year U.S. bond closed at 4.636% and the 30-year U.S. bond closed at 4.794%.

Gold gained 70 cents to close at $690.400 a troy ounce, silver increased 11 cents to end at $13.640 a troy ounce and copper gained $137.000 to close at $8370.000 per metric ton.

Oil lost 41 cents to close at $61.520 a barrel and heating oil declined 2.720 cents to finish at 180.370 cents a gallon. Natural gas decreased 15.4 cents to close at $7.784 per MMBtu. Gasoline went down 2.690 cents to end at 218.950 cents a gallon.

Asian markets closed higher helped by gains in the technology sector and on the expectations that weaker job growth in the U.S. will persuade the Federal Reserve to reduce interest rates. Market indexes in Hong Kong, Australia, Taiwan and Singapore closed at record. The advancers were led by Japan with an increase of 1.58% and Philippines with an advance of 1.57%. The decliners were India with a decline of 0.39% and Singapore with a loss of 0.23%. Australia gained 0.53%. DLF Ltd received its approval for listing in India and raise $2.5 billion from the local market, largest IPO ever. Bombay Stock Exchange sold 41% of its stake to India based financial institutions.

European markets finished a little higher with declines from automakers. The advancers were led by U.K. with an advance of 1.01%, Belgium with an increase of 0.43% and Norway with a gain of 0.37%. The only decliner was Italy with a loss of 0.06%. BAE, aerospace and defense British company, agreed to pay $4.1 billion for the U.S. based Armor holdings. EU revised its annual economic growth rate across 27-nation economic bloc to 2.9% from 2.9% forecast in February.

Latin America markets finished lower hurt by lower oil prices, while Canada gains on deal news. The decliners were led by Argentina with a decline of 1.67%, Brazil with a loss of 0.67% and Mexico with a decrease of 0.50%. There were no advancers. Second largest private bank in Brazil, Banco Bradesco reported 11% rise in earnings as it expanded its lending to consumers. Chilean economy expanded at 6.5%, fastest pace in two years, on record exports and Finance Minister projected a growth rate of 5.7% for the current year. Chilean government foreign exchange holding from copper exports rose by 40% to $14.2 billion.

Canada advanced 0.67% helped by Alcoa''s bid for Canadian aluminum giant Alcan, and Cemex''s bid for Rinker Group.

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

K-Tron International Inc.''s (KTII: chart) shares climbed to 6.8% after the company said that its first-quarter net income more than doubled to $4.9 million, or $1.72 per share, 110.6% higher than the $2.317 million reported in the first quarter of 2006. Revenue climbed to $46.9 million versus $32.1 million in the same period a year earlier.

Ohio Casualty Corp. (OCAS: chart) shares jumped 29.4% after the company agreed to be acquired for $44 per share, or $2.7 billion, by Liberty Mutual Group.

Rocky Brands Inc. (RCKY: chart), footwear and apparel maker, said that its first-quarter net income fell 14% on lower Western footwear sales and a reduction in company''s inventory. Quarterly profit fell to $765,905, or 14 cents per share, compared with $893,230 million, or 16 cents per share during the year-ago quarter. Revenue grew 7% to $61.7 million, from $57.5 million last year, helped by growth in the company''s work and outdoor products, offset by lower sales of Western products.

8x8 Inc. (EGHT: chart) shares fell 6.8% after the company reported its fourth-quarter net loss of $2.25 million, or 4 cents per share, compared with a net loss of $6.65 million, or 11 cents per share, in the year-ago period. Revenue climbed to $14.4 million versus $10.3 million a year ago.

Entegris Inc. (ENTG: chart) shares slipped 9.1% after the provider of materials integrity products said that its first-quarter net earnings declined to $10.4 million, or 8 cents per share, compared with $11.4 million, or 8 cents per share, in the year-ago period. Revenue climbed to $161.1 million against $157.7 million a year ago. Entegris forecast second-quarter earnings of 8 to 12 cents per share, or 10 to 12 cents per share excluding items, on revenue of $155 million to $162 million.

Gray Television''s (GTN: chart), TV stations operator, said that it posted a deeper loss in the first quarter on an early repayment of debt. During the first quarter the company lost $11.3 million, or 24 cents per share, versus a loss of $3.4 million, or 7 cents per share, in the year-ago period. Quarterly earnings included a charge of $6.5 million for paying off a debt early. Revenue climbed 2% to $69.7 million versus $68.2 million from the previous year. Shares fell 6%.

Alcoa (AA: chart) said it would make a hostile bid for Alcan Inc. (AL: chart) for nearly $27 billion, after talks between the rival aluminum producers failed to lead to a deal. If successful, the bid of $73.25 per share in cash and stock would create the world''s largest producer of the metal that is used for products ranging from beverage cans to airplanes, cars and heavy machinery parts. Shares of Alcan and Alcoa climbed respectively 32.5% and 6.4%.

Armor Holdings Inc. (AH: chart) shares climbed 5.6% after the company agreed to be acquired by Britain''s BAE Systems Plc. for $88 per share, or $4.1 billion.

Usec Inc. (USU: chart) shares climbed 7% after the company said that its first-quarter earnings increased to $39.3 million, or 45 cents per share, compared to the year-earlier period. The energy company reported quarterly revenue of $465 million against $361.3 million a year ago.

1:00PM NY, 5:00 PM Frankfurt European stocks closed little changed.
European stock markets ended little changed on Monday, reflecting declines in the shares of automakers which offset gains for companies including Bouygues. Several European markets, including the U.K. stock market, were shut, keeping volumes on the low side. Shares of French conglomerate Bouygues rose 3.5%, on hopes that the new president would welcome a tie-up involving Bouygues, 21% held Alstom and nuclear plant operator Areva. Alstom rose 3.6%, while Areva gained 2.5%.

EADS shares added 1.1%. Shares in Gaz de France climbed 4.8% on hopes for a deal with Sonatrach, an Algerian energy company. Auto makers lost ground, with BMW falling 0.6% and Volkswagen losing 1.1%. Dutch bank ABN Amro lost 2.3% after rejecting a $24.5 billion offer for its LaSalle unit from a group led by the Royal Bank of Scotland.