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Weekly Market Review
Weekly Market Report

February 13th 2012


Europe Crisis

Greece is still all over the Financial News, European financial markets responded with modest gains early Monday after Greece got a step closer to receiving a second rescue package to avoid defaulting on its debts next month.
Coming Up : Feb. 13: Italian T-bill auction. Feb. 14: Flash data on fourth-quarter EU gross domestic product. Feb. 15: Euro-zone finance ministers to meet in Brussels to sign off on Greek deal.

Currencies

The euro rose against most of its major trading currencies. European stocks opened broadly higher and the cost of insuring euro-zone government debt against default eased. But market watchers remained cautious.
The dollar lost ground against the euro and British pound, but gained strength against the Japanese yen.

Commodities

Hedge funds increased bets on rising commodity prices to the highest since September on mounting confidence that growth in the U.S. will strengthen demand.
Oil for March delivery rose 96 cents to $99.63 a barrel. Oil rebounded from a three-day low in New York after Greece’s parliament approved austerity measures to obtain an international bailout, while concern grew that a ban on Iranian oil may constrict supplies.

Gold futures for April delivery gained $4.90 to $1,730.20 an ounce.

Stock Markets Market

U.S. stocks were poised for early gains Monday, after the Greek parliament approved a key austerity package over the weekend.

The Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were higher ahead of the opening bell. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.
European stocks were higher in morning trading. Britain's FTSE 100 (UKX) jumped 0.8%, the DAX (DAX) in Germany edged up 0.3% and France's CAC 40 (CAC40) rose 0.4%.

Asian markets ended mixed. The Shanghai Composite (SHCOMP) was unchanged, while the Hang Seng (HSI) in Hong Kong added 0.5% and Japan's Nikkei (N225) climbed 0.6%.

Regards,
The GOptions.com Analyst Team


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