Currencies

• EUR/USD The euro rose to three-week highs versus the dollar on speculation the European Central Bank will increase interest rates this week after the region rescued debt-stricken Greece from the edge of default.
  • European finance ministers authorized an 8.7 billion-euro ($12.7 billion) loan payout to Greece by mid-July.
  • The euro rose to $1.4563 as of 1:10 p.m. in Tokyo from $1.4526 in New York last week.


• USD/JPY Surprising strength in the U.S. manufacturing sector supported the dollar against most major currencies Friday where it reached 81.136 against the yen.
  • It was trading at 80.750 around 7:30 a.m. London time.


• GBP/USD Sterling kept a steady increase against the dollar since Friday after it dropped at $1.59873.
  • It was trading at $1.60882 around 7:30 a.m. London time.

Commodities

• Gold rebounded from a six-week low on speculation the euro will climb further against the dollar amid expectations that the European Central Bank will raise interest rates this week.
  • Immediate-delivery gold increased as much as 0.4 percent to $1,494.15 an ounce and traded at $1,493.90 an ounce by 12:50 p.m. in Singapore.

• Oil rose in New York after Europe authorized a loan payout for Greece, easing speculation the country's debt crisis will disrupt the region's economic recovery.
  • Crude for August delivery rose as much as 53 cents to $95.47 in electronic trading on the New York Mercantile Exchange and was at $95.25 at 1:15 p.m. Singapore time.

Equities

• U.S. stocks posted the biggest weekly rally in two years after Greece took action to avoid a default, Nike Inc. (NKE)'s earnings topped analyst estimates and U.S. manufacturing growth rebounded.
  • Caterpillar Inc. (CAT), United Technologies Corp. (UTX) and 3M Co. (MMM) jumped at least 6.3 percent.
  • Nike, the world's largest sporting-goods company, climbed 13 percent. Visa Inc. (V) surged 20 percent,
  • The S&P 500 surged 5.6 percent to 1,339.67.
  • The Dow Jones Industrial Average advanced 5.4 percent to 12,582.77.


• European stocks advanced by the most in a year last week, after Greek lawmakers passed a five-year austerity package, qualifying the country for further aid.
  • National benchmark indexes climbed in all 18 western European markets last week except Iceland.
  • The U.K.'s FTSE 100 Index increased 5.1 percent.
  • Germany's DAX Index (DAX) gained 4.2 percent and France's CAC 40 Index (CAC) jumped 5.9 percent
• Asian stocks advanced as exporters climbed after U.S. manufacturing unexpectedly accelerated.
  • Toyota Motor Corp. (7203), the world's biggest carmaker by market value, advanced 1.7 percent in Tokyo and Honda Motor Co., the automaker which receives 84 percent of its sales outside Japan, gained 3.4 percent.
  • The MSCI Asia Pacific Index gained 1.2 percent to 137.21, as of 2:55 p.m. in Tokyo.
  • Japan's Nikkei 225 (NKY) Stock Average increased 1 percent.
  • Hong Kong's Hang Seng Index rose 1.7 percent and China's Shanghai Composite Index gained 1.6 percent.

Sources: Bloomberg, FT