DJIA
gained 2.2% to end at 12,880.1. NASDAQ climbed 3.0% to settle at 2,935.1.
S&P 500 rose 2.5% to close at 1,362.2.
Nikkei
225 index is trading 0.2% higher at 9,020.9.
FTSE
100 rose 1.4% to settle at 5,571.2.
FTSEurofirst
300 index rose 2.6% to 1,021.4.
In
Asia, crude oil for August delivery is trading 1.1% or $0.97 lower at $83.99
per barrel.
At
0400 BST today, the GBP is trading 0.1% lower against the USD at $1.5659, 0.2%
higher against the EUR at €1.2406, and 0.3% lower against the JPY at ¥124.89.
US Market
Snapshot
US
markets rallied on Friday, as an agreement by the eurozone leaders on measures
to contain the region’s debt crisis and shore up struggling banks boosted
market sentiment. Constellation Brands jumped 24.4%, after the company bought
the remaining 50.0% of Crown Imports. KB Home climbed 12.6%, as the company
sold more houses at higher prices during its fiscal second quarter. Bank of
America Corp, Citigroup and American Express rose between 2.7% and 5.7%, amid
improved risk appetite among investors. Apple advanced 2.6%, after Pacific
Crest raised its price target on the stock. Exxon Mobil Corp and Chevron Corp
added 3.0% and 2.0%, respectively, following a rise in crude oil prices.
However, Research In Motion plunged 19.9%, after posting a first quarter loss
and delaying the next BlackBerry operating system.
DJIA
gained 2.2% to end at 12,880.1. NASDAQ climbed 3.0% to settle at 2,935.1.
S&P 500 rose 2.5% to close at 1,362.2.
Asian Market
Snapshot
Asian
markets are trading higher this morning, as investors welcomed a European plan
to address the region’s debt crisis and after Japan’s quarterly Tankan
business-sentiment survey came in well above expectations. In Japan, Sony
traded higher, after a Nikkei news report stated that the firm's Japanese music
unit would open its library to domestic owners of Apple devices. In South
Korea, LG International surged after a regulatory filing showed that the
company had acquired a $212 million stake in an Indonesian coal mine. SK Hynix
traded higher, after it completed a new semiconductor line to keep up with
rising demand for data-storage chips used in Apple's smartphones and tablets.
Nikkei
225 index is trading 0.2% higher at 9,020.9, while the Kospi index is trading
0.2% higher, at 1,858.2. Markets in Hong Kong are closed on account of a public
holiday.
UK Market
Snapshot
UK
markets closed higher on Friday, as European leaders agreed to shore up the
region’s banking system to reduce borrowing costs for Italy and Spain and
contain the region’s debt crisis. Banking sector stocks, Lloyds Banking Group,
HSBC Holdings and Royal Bank of Scotland Group gained between 0.5% and 4.3%, as
investors remained optimistic on an agreement by eurozone leaders for banks in
the region. However, Barclays dropped 1.7%, amid continued worries about the
extent of the problems it faces, despite having settled allegations of
manipulating interbank lending rates. BP, Royal Dutch Shell and BG Group gained
between 1.0% and 3.1%, tracking a rise in crude oil prices. Berkeley Group
Holdings climbed 3.2%, after it reported a sharp surge in full-year profits.
Cairn Energy added 3.5%, after it raised $365 million selling a stake in Cairn
India Limited. Miners, Vedanta Resources, Rio Tinto Group and Antofagasta rose
between 3.6% and 4.7%, as base metal prices traded higher.
FTSE
100 rose 1.4% to settle at 5,571.2, while FTSE 250 gained 2.3% to close at
10,932.1.
European Market
Snapshot
Other
European markets rallied on Friday, after EU leaders announced a range of
positive measures to recapitalize banks using the region's permanent bailout
fund, without adding to government debt, easing concerns about Italy and Spain.
Deutsche Boerse climbed 4.8%, after JPMorgan upgraded the stock to “Overweight”
from “Neutral”, while BNP Paribas, National Bank of Greece and Banco Santander,
rallied between 6.9% and 12.9%, as investors cheered the eurozone emergency
action. BMW surged 5.1%, after UBS upgraded the stock to “Buy” from “Neutral”,
while Daimler soared 4.5%, after the company reached a MoU with Tokyo-based
Nissan on the mutual supply of light-duty trucks in Japan.
FTSEurofirst
300 index rose 2.6% to 1,021.4. German DAX Xetra 30 soared 4.3% to 6,416.3.
French CAC-40 closed 4.8% higher at 3,196.7.
Commodities
In
Asia, crude oil for August delivery is trading 1.1% or $0.97 lower at $83.99
per barrel. On Friday, crude oil for August delivery soared 9.4% or $7.27 to
end at $84.96 per barrel, on improved prospects for energy-demand growth after
EU leaders, at a summit, announced plans to use bailout funds to reduce the
debt burden on Italy and Spain, easing concern the eurozone crisis would
worsen. Crude oil also gained value, after business activity in the US
unexpectedly expanded in June and ahead of the start of a European Union oil
embargo on imports from Iran due to begin July 1.
Gold
for immediate delivery is trading 0.3% lower today, at $1,592.05 per ounce.
Gold for August delivery rallied 3.5% or $53.80 to settle at $1,604.20 per
ounce on Friday, as the dollar weakened against the euro, after EU policymakers
agreed on measures to help resolve the ongoing debt crisis in the euro region.
Currencies
At
0400 BST today, the GBP is trading 0.1% lower against the USD at $1.5659, 0.2%
higher against the EUR at €1.2406, and 0.3% lower against the JPY at ¥124.89.
The
EUR is trading 0.3% lower against the USD at $1.2622.
The
EUR is trading 0.4% lower against the JPY at ¥100.67.
The
EUR is trading lower against most of its major peers, amid mounting speculation
that the European Central Bank would lower the interest rates, ahead of reports
that might show jobless rate climbed to a record and manufacturing activity
contracted in the region.
The
USD fell against the JPY following a stronger-than-expected Tankan survey data
in Japan. Investors speculate Institute for Supply Management report would show
US manufacturing activity slowed down in June.
On
Friday, the EUR closed higher against the USD, as post EU summit announcements
eased investors’ concerns about the European banking sector and spurred
optimism that EU lawmakers would resolve the region’s sovereign-debt crisis.
The
JPY closed lower against the USD, after the industrial output in Japan fell
3.1% in May and domestic Purchasing Managers' Index (PMI) for the manufacturing
sector in Japan contracted in June.
The CAD finished higher
against the USD, as demand for high-yielding assets increased, amid optimism
that Europe would be able to resolve its debt crisis.
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