Currencies

• USD/CAD Canada's dollar strengthened against its U.S. counterpart on optimism that European leaders will be able to solve the region's debt crisis next week.
  • Canada's currency rose 0.5 percent to C$1.0154 per U.S. dollar by 5 p.m. in Toronto, after falling as much as 0.4 percent.

• USD/JPY The yen was set for a weekly advance against most major peers as investor confidence ebbed that European leaders can resolve the region's debt crisis, increasing demand for refuge assets.
  • The Japanese currency was little changed at 76.77 per dollar, headed for a 0.6 percent advance since Oct. 14.

• GBP/USD The pound weakened against the dollar and yen as signs of a split among the European leaders on a plan to resolve the debt crisis drove investors to seek out safer investments.
  • The pound weakened 0.5 percent to $1.5692 at 4:174 p.m. London time.

Commodities

• GOLD gained for the first time in five days, trimming its worst weekly performance in a month, as optimism that European leaders have a plan to fight the region's debt crisis drove commodities higher.
  • Bullion for immediate delivery advanced as much as 0.6 percent to $1,629.70 an ounce and traded at $1,625.35 at 1:18 p.m. in Singapore.

• Oil rose, trimming its first weekly loss in three, before European leaders meet Oct. 23 to decide on a rescue fund to ease the debt crisis threatening the region's economy.
  • Futures climbed as much as 0.9 percent after closing yesterday at a one-week low. European governments may deploy as much as 940 billion euros ($1.3 trillion) to fight the debt crisis, two people familiar with discussions said.

Equities

• US Stocks rose, recovering from earlier losses, as European governments considered deploying $1.3 trillion in funds to tame the sovereign debt crisis.
  • The S&P 500 rose 0.5 percent to 1,215.39 at 4 p.m. New York time, after falling as much as 1 percent and rallying 0.8 percent earlier today. The Dow Jones Industrial Average climbed 37.16 points, or 0.3 percent, to 11,541.78.


• European stocks declined the most in two weeks amid concern the euro area's leaders are far from agreeing on a plan to end the region's debt crisis.
  • The benchmark Stoxx Europe 600 Index slid 1.5 percent to 233.07 at the close of trading.
  • The U.K.'s FTSE 100 dropped 1.2 percent, France's CAC 40 retreated 2.3 percent and Germany's DAX slipped 2.5 percent.

• Asian stocks swung between gains and losses on speculation European policy makers will struggle to reach a resolution while they consider deploying $1.3 trillion to fight the region's debt crisis.
  • Japan's Nikkei 225 Stock Average fell 0.1 percent after rising as much as 0.2 percent. Australia's S&P/ASX 200 lost 0.1 percent. Hong Kong's Hang Seng Index (HSI) was little changed after swinging between a gain of 0.6 percent and a drop of 0.3 percent.

Sources: Bloomberg, FT