IBT Staff Reporter

Hungary will seek a two-year precautionary deal with the IMF and EU for 2011-12 in the range of 10-20 billion euros and hopes to agree with lenders on a higher budget gap than 3 percent of GDP for next year, the Economy Minister said on Friday.

Stock index futures were slightly higher after a four-day slide as investors keenly awaited the government's employment report for key insight into the state of the economy.

China's yuan jumped against the dollar on Friday to its highest since a landmark 2005 revaluation but its broader gains were less impressive as it slumped against the euro. Traders and analysts said the moves suggested the Chinese central bank wanted to hold the yuan's overall value steady against a basket of currencies by offsetting gains made against the dollar with losses against the euro.

The S&P 500 and Dow index futures were little changed on Friday after a four-day slide as investors keenly awaited the government's employment report for key insight into the economy.

Employment likely contracted for the first time this year in June as thousands of temporary jobs for census workers ended, though private-sector hiring probably picked up, according to a Reuters survey.

General Motors' first-half sales in China, the world's biggest auto market, exceeded sales in its home U.S. market for the first time, according to data released on Friday.

Religare Enterprises Ltd (REL) has entered the standardized branded gold coin market and announced the launch of 'Swarna Mudra' gold coins & bars, which will be distributed through Religare Bullion Ltd. The gold coins are manufactured and certified according to international standards by MMTC for 999 quality guarantee and will be available in denominations of 2, 5, 8 and 10 gms.

World shares eked out gains for only the second time in nine sessions on Friday but the rise was likely to be contingent on key U.S. jobs data due later.

The dollar steadied on Friday after steep losses the previous day on growing concerns about the U.S. economy, with key monthly non-farm payrolls data looming. The greenback hit its lowest this year against the yen below 87 yen on Thursday as market players covered short cross yen positions.

Germany and France will call on the European Commission to submit proposals for a European financial market transaction tax, German Finance Minister Wolfgang Schaeuble said on Friday.

Australia ended a damaging dispute with global miners on Friday by dumping its planned super profits tax for a lower resources rent tax backed by big miners, clearing a major hurdle to calling an early election.

The dollar steadied on Friday after steep losses the previous day on growing concerns about the U.S. economy, with key U.S. non-farm payrolls data looming. The greenback hit its lowest this year against the yen below 87 yen on Thursday as market players covered short cross yen positions.

Asian stocks recovered on Friday after three days of declines but investors remained nervous ahead of a closely-followed U S. job report amid concerns over the U.S. and global outlook.

Oil was steady around $73 on Friday, near 3-week lows after a spate of weak manufacturing data renewed worries about slower global economic growth ahead of a key U.S. jobs report. Manufacturing growth cooled around the world in June, reports from China, Europe and the U.S. showed on Thursday, adding to evidence that the global economic recovery is losing steam.

Sstock index futures pointed to a mixed open on Wall Street on Friday, with futures for the S&P 500 down 0.1 percent, Dow Jones futures down 0.12 percent and Nasdaq 100 futures up 0.03 percent at 0745 GMT.

Asian stocks recovered on Friday after three days of declines but investors remained nervous ahead of a closely-followed U S. job report amid concerns over the U.S. and global outlook. World stocks closed out a dismal second quarter and the 10-year U.S. Treasury yield has fallen below 3 percent as European debt woes and growing fears of a double-dip recession on the back of grim economic data rolled financial markets.

Oil prices rebounded on Friday from 3-week lows, but were still far from reversing the biggest one-day drop in almost a month a day earlier, after a spate of weak manufacturing data reflected slower global economic growth.

Gold bounced from a 5-week low on Friday as weaker prices ignited buying by bargain hunters and jewelers, but investors were cautious ahead of the release of a U.S. employment report. Investors shrugged off a small drop in ETF holdings, turning their attention to the June non-farm payrolls data which will set the tone for currencies and equities. Gold tumbled nearly 4 percent on Thursday as funds sold bullion to cover losses in other markets.

The dollar was on the back foot against the euro and slipped against the Aussie on Friday after a big euro short squeeze ahead of U.S. jobs data, while the yen lost ground all round as the squeeze spilled into Asian trade.

The dollar was on the back foot against the euro and slipped against the Aussie on Friday after a big euro short squeeze ahead of U.S. jobs data, while the yen lost ground all round as the squeeze spilled into Asian trade.

The euro rallied to a five-week high above $1.25 on Thursday, while the dollar fell broadly after disappointing data heightened worries the U.S. economic recovery is stalling. Concerns about euro zone debt and liquidity problems eased further on Thursday after Spain successfully sold 3.5 billion euros of a five-year bond, adding to positive sentiment a day after European banks borrowed less money than expected from a European Central Bank tender.

Gold prices rebounded in Asian trade Friday mainly on bargain buying and euro's recovery against the dollar. Gold for immediate delivery was seen trading at $ 1206.39 an ounce at 12.00 noon Singapore time while U.S. gold futures for August delivery was at $1,207.3 an ounce.

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The Bank of Japan is expected to revise up its economic forecast for the year to March 2011 at its next policy meeting on July 14-15, the Nikkei newspaper reported on Friday.

Toyota Motor Corp may recall up to 270,000 vehicles worldwide to fix an engine glitch, with Japan's Asahi newspaper reporting the move could cost the car maker up to 20 billion yen ($228 million).

Google Inc plans to buy one of the Web's key providers of airline travel software for $700 million, potentially raising new antitrust concerns for the world's largest Internet search engine.

Sales of video game software and equipment in the United States fell 5 percent in May, industry tracker NPD said on Thursday, dragged down by sagging demand for game consoles.

Toyota Motor Corp plans to recall up to 270,000 vehicles at a cost of up to 20 billion yen ($228 million), Japan's Asahi newspaper reported on Friday.

A slightly lower than forecast 0.2% May Retail Sales result coupled with a 6.6% fall in Building Approvals for the same month saw the Aussie dollar momentarily dip below 0.8320 during yesterday's local session.