Currencies

• EUR/USD The dollar rose against the euro as initial excitement over fresh aid for Greece faded and investors considered other risks in Europe.
  • The euro slipped to $1.4386 from $1.4436 in late North American trading on Thursday, and was trading at $1.4410 around 7 a.m. London time.


• USD/JPY The yen slid from a four- month high versus the greenback after Japanese Finance Minister Yoshihiko Noda repeated he's watching markets closely because the currency's moves have been "one-sided".
  • Japan's currency dropped to 78.61 per dollar from 78.30, after reaching 78.22.


• GBP/USD The British pound kept a steady level against the dollar from late Thursday.
  • Sterling was trading $1.63132 around 7:00 a.m. London time.

Commodities

• Gold headed for the first weekly drop in three after European leaders agreed on a multibillion- euro rescue package for Greece, limiting contagion concerns, and a record rally prompted sales.
  • Immediate-delivery bullion dropped for a second day, losing as much as 0.3 percent to $1,586.25 an ounce, before trading at $1,587.75 at 1:33 p.m. in Singapore.
  • Gold for August delivery in New York rose for the first day in four, gaining as much as 0.4 percent to $1,592.50 an ounce.

• Crude Oil advanced in New York as investors bet fuel demand will increase amid signs Europe and the U.S. will contain their debt crises.
  • Crude for September delivery advanced as much as 48 cents to $99.61 a barrel in electronic trading on the New York Mercantile Exchange and was at $99.41 at 1:28 p.m. Sydney time

Equities

• U.S. stocks rallied as European officials announced a plan that will give additional aid to Greece and Morgan Stanley (MS)'s results beat estimates.
  • Morgan Stanley jumped 11 percent after the world's largest brokerage posted a smaller-than-estimated loss.
  • The S&P 500 added 1.4 percent to 1,343.80 at 4 p.m. in New York.
  • The Dow Jones Industrial Average climbed 152.50 points, or 1.2 percent, to 12,724.41.


• European stocks advanced as investors speculated that European Union leaders will agree on a plan to extend a bailout for Greece.
  • The U.K.'s FTSE 100 Index increased 0.8 percent.
  • Germany's DAX Index (DAX) climbed 1 percent, while France's CAC 40 Index (CAC) rallied 1.7 percent.

• Asian stocks rose with Mitsubishi UFJ Financial Group Inc., Japan's largest bank by market value, jumping 3.3 percent in Tokyo
  • The MSCI Asia Pacific Index gained 0.9 percent 138.44 as of 12 p.m. in Tokyo.
  • Japan's Nikkei 225 (NKY) Stock Average increased 0.9 percent.
  • Hong Kong's Hang Seng Index advanced 1.7 percent, while China's Shanghai Composite Index added 0.4 percent.

Sources: Bloomberg, FT