Currencies

• EUR/USDThe euro fell against the dollar on concern European leaders will fail to agree on measures to contain the region's debt crisis at a summit this week.
  • Euro-area leaders will meet in Brussels on July 21 to discuss the "financial stability" of the region, European Union President Herman Van Rompuy said.
  • The euro dropped to $1.4076 as of 6:06 a.m. in London from $1.4157 in New York last week.


• USD/JPY The yen dropped against the dollar since Friday.
  • Japan's currency traded at 79.009 at 7:30 a.m. London time


• GBP/USD The dollar was stronger against the British pound at the beginning of the week.
  • The British pound bought $1.60973 around 7:30 a.m. London time, down from $1.6137.

Commodities

• Gold surged to a record as U.S. politicians failed to reach agreement on raising the debt ceiling and Europe's sovereign crisis remained, increasing haven demand.
  • Immediate-delivery gold gained as much as 0.3 percent to $1,598.60 an ounce.
  • Gold for August delivery in New York also gained to a record, climbing as much as 0.6 percent to $1,599.20 an ounce.

• Crude Oil futures capped a chaotic previous week with a 1.6% rise to above $97 a barrel, on expectations that Federal Reserve policy will continue to support the underlying strength in oil.
  • Crude for August delivery was at $97.22 a barrel in electronic trading on the New York Mercantile Exchange and was trading at $97.11 around 7 a.m. London time.

Equities

• U.S. stocks fell last week amid concern the debt crisis in Europe is spreading and American lawmakers are putting the nation's top credit rating in jeopardy.
  • Bank of America Corp. (BAC) dropped 6.5 percent and Google Inc. (GOOG) surged 12 percent.
  • The S&P 500 dropped 2.1 percent to 1,316.14 last week.
  • The Dow fell 177.47 points, or 1.4 percent, to 12,479.73.


• European stocks finished lower on Friday as a report showing a big drop in U.S. consumer sentiment overshadowed some strong corporate earnings.
  • Commerzbank AG (CBK), Germany's second-biggest lender, led a retreat in financial stocks and Thomas Cook Group Plc (TCG) slumped 44 percent.
  • The U.K.'s FTSE 100 Index and Germany's DAX Index each dropped 2.5 percent.
  • France's CAC 40 Index slid 4.8 percent.

• Asian stocks fell after U.S. President Barack Obama said the government is "running out of time" in negotiating an agreement to cut the fiscal deficit, hurting the outlook for Asian exporters.
  • The MSCI Asia Pacific Excluding Japan Index declined 0.4 percent to 473.93 as of 2 p.m. in Hong Kong.
  • Japan's Nikkei 225 (NKY) Stock Average rose 0.39 percent.
  • Hong Kong's Hang Seng Index was little changed and China's Shanghai Composite Index lost 0.1 percent.

Sources: Bloomberg, FT