Of the FTSE 100 stocks, Tesco led the decliners with a fall of 2.2% followed by losses in SAB Miller of 1.2%, Vodafone of 1.1%, and 0.6% in DSG International. Antofagasta led the gainers with a rise of 5% followed by increases in Vedanta Resources of 4.7%, persimmon of 4.2%, and Friends and Provident of 4.15%. Schroders and Alliance & Leicester increased more than 3%.

BHP, mining company, reported preliminary third quarter production report and said that production for iron ore rose 7%, copper 23% but nickel production fell 13%. The company also reported healthy production of oil and natural gas and coal. The news lifted the stock 2.5% to 1,805p and helped other miners to rise. Antofagasta added 5% and Kazakhmys jumped 3%.

BP (BP: chart) reported third quarter profit declined 29% to $4.41 billion from $$6.23 billion or earnings per share fell to 23.1 cents from 31.4 cents. Revenue in the quarter increased 2.7% to $72.6 billion. Separately the company agreed to pay $303 million to settle U.S. government charges that it manipulated propane prices in 2004.

Software developer Autonomy Corp fell 4% to 915p after reporting earnings that disappointed investors. The sales in the third quarter rose 49% to $89.6 million and earnings increased 45% to $12.2 million.

Home builder Persimmon, jumped 4% to 988p after it said that it purchased 250,000 shares of the company at 2.4 million pounds.

Prudential Plc reported that at the end of nine months of operations group insurance increased 15% to 1.979 billion pounds driven by 48% rise in sales in Asia, and 20% increase in the U.S. In the third quarter annual premium equivalent sales increased 10% to on 40% increase in Asia. Sales in UK fell 20%. Prudential stock jumped 2%.

Soccer apparel maker Umbro Plc jumped 15% to close at 190p after it agreed to be bought by Nike for 285 million pounds. Under the terms of the Offer, Umbro Shareholders will receive 193.06p in cash for each Umbro Share. The Offer represents a premium of approximately 61% to the closing price of 120 pence per Umbro Share on 17 October 2007 (the last business day prior to the announcement by Umbro that it had received an approach).

In other European markets Norway led the region with a rise of 2% followed by increase of 0.7% in Spain, Switzerland, and France. Siemens added 1.9% and Alfa Laval increased 15% after reporting 33% rise in sales.

The European Court of Justice ruled in favor of Porsche in its litigation against Volkswagen. The court said that Volkswagen anti-takeover defense against foreign suitor is illegal clearing the way for Porsche to increase its 31% stake in the automaker.

[R]1:00AM New York – Rising earnings lift U.S. averages.[/R]

U.S. stocks held on to their early gains after three hours of trading. Dow Jones added Nasdaq increased, and S&P 500 edged higher

Earnings news dominated the trading sentiment in the morning.

Apple jumped 7% or $11 to $185.31 after reporting 67% increase in earnings and 29% rise in sales.

Burlington Northern (BNI: chart) added $3.50 to $86.50 after reporting earnings per share of $1.48 compared to $1.33 from a year ago. Freight revenue increased 4% or $133 million to $3.95 billion and operating income increased 9% to $1 billion. Agricultural products shipment rose 10% to all time high of $682 million on 8% increase in volume for wheat, ethanol, fertilizer, and bulk food.

Western Union (WU: chart) reported third quarter revenue rose 10% to $1.3 billion and earnings declined 16% to $216.3 million from $258.1 million a year ago. Earnings per share declined to 29 cents from 34 cents a year ago. Western union stock jumped $1.27 to $20.57 after the news.

Coach (COH: chart) reported first quarter net sales increased 28% to $677 million and net income increased to $154.8 million from $125.6 million from a year ago. Earnings per share increased 32% to 41 cents from 31 cents a year ago. Coach stock fell 11% to $36.72.

T Rowe Price Group, Inc (TROW: chart) reported third quarter net revenue of $571 million up from $452 million, earnings per share increased to $175 million from $128 million and earnings per share increased to 63 cents from 46 cents a year ago. Revenue in the quarter jumped 27% and earnings increased 37% in the period.

Investment advisory revenues earned from the T. Rowe Price mutual funds distributed in the United States increased to $348 million for the third quarter of 2007, up $77.5 million from the comparable 2006 quarter. Mutual fund assets increased $9.0 billion during the third quarter of 2007, and ended the quarter at $246.3 billion.

Market appreciation and income added $5.3 billion to the mutual funds during the quarter, while investors added net inflows of $3.7 billion. Net cash inflows were spread among the funds, with the international and global stock funds adding $1.4 billion, the U.S. stock and blended asset funds adding $1.2 billion, and the bond and money market funds adding $1.1 billion.

The New Asia, New Income, Growth Stock, Blue Chip Growth and Equity Index 500 funds each added more than $.5 billion during the quarter.

T Rowe stock jumped 4% to $57.34 in mid-day trading.