Currencies

• EUR/USD The dollar weakened for a second day against the euro before reports that economists said will show U.S. consumer spending slowed in April and pending home sales declined.
  • The dollar fell to $1.4252 per euro as of 6:09 a.m. in London from $1.4145 in New York yesterday.


• USD/JPY The U.S. currency declined versus 15 of its 16 major counterparts on speculation slowing growth will deter the Federal Reserve from raising interest rates until next year.
  • The single currency gained 0.4 percent to 115.49 yen.


• GBP/USD Britain's pound appreciated to the highest in two weeks versus the dollar yesterday after a report showed the U.S. economy grew less than economists forecast.
  • It appreciated 0.5 percent to $1.6348, after touching $1.6377. This morning the pair was trading around $1.6432 at 7 a.m. London time.

Commodities

• Gold futures ended lower for the first time in five sessions on Thursday as traders looked for stability in the equities markets as an excuse to cash out and profit from the metal's recent rally.
  • Gold for June delivery settled down $3.90, or 0.3%, at $1,522.80 a troy ounce on the Comex division of the New York Mercantile Exchange.

• Oil rose in New York, heading for a 1.3 percent gain this week, on speculation that the global economic recovery will sustain demand for crude.
  • Futures advanced as much as 0.7 percent as Group of Eight leaders said the world economy is gaining strength and as a weakening dollar boosted the appeal of commodities.
  • Crude for July delivery increased as much as 67 cents to $100.90 a barrel in electronic trading on the New York Mercantile Exchange, and was at $100.70 at 1:38 p.m. Singapore time.

Equities

• U.S. stocks gained a second day as higher-than-estimated corporate profits at companies including Tiffany & Co. overshadowed data showing the economy grew at a slower rate than forecast and jobless claims unexpectedly rose.
  • Tiffany, the second-largest luxury jewelry retailer, advanced 8.6 percent after raising its full-year earnings forecast as profit beat estimates.
  • The Standard & Poor's 500 Index advanced 0.4 percent to 1,325.69 at 4 p.m. in New York.
  • The Dow Jones Industrial Average increased 8.10 points, or 0.1 percent, to 12,402.76.


• European stock retreated (in majority) after the head of the group of euro-area finance ministers said the International Monetary Fund may not release its portion of an aid payment to Greece next month.
  • Jean-Claude Juncker, the leader of the euro area's group of finance ministers, pointed that the IMF will hold back on the 3.3 billion-euro contribution of the total 12 billion-euro payment that Greece was expecting to receive next month due to specific rules.
  • The U.K.'s FTSE 100 Index climbed 0.2 percent to 5,880.99.
  • France's CAC 40 Index lost 0.3 percent to 3,917.22 and Germany's DAX Index slumped 0.8 percent to 7,114.09.


• Asian stocks rose for a second day, erasing the regional benchmark gauge's weekly decline, as corporate profits at companies including Genting Bhd. overshadowed data showing U.S. economic growth is faltering.
  • Genting, Asia's third-biggest casino operator by market value, rose 1.3 percent in Kuala Lumpur after saying first- quarter profit more than tripled from a year earlier.
  • The MSCI Asia Pacific Index gained 1 percent to 134.67 as of 1:11 p.m. in Tokyo.
  • Japan's Nikkei 225 Stock Average advanced 0.2 percent.
  • China's Shanghai Composite Index retreated 0.1 percent and Hong Kong's Hang Seng Index climbed 1 percent.

Sources: Bloomberg, FT