By: Mike Campbell
Friday marked the last trading session in April. The week was a poor one for the major stock markets with the best performance coming from Japan, the only market to post a gain. In Europe over the course of last week, the markets all closed lower; the FTSE shed 3%, closing at 5553.3 and ending the month 3.3% lower; the CAC dropped by 3.4% to end the session at 38127 shedding 5.4% of its value in April; the Dax slipped by 2% ending the week at 6135.7; weaker by 1.6% over the month.
The Dow ended the week down by 1.8%, finishing the trading session at 11008.6 but managed to put on 0.75% over the month. The Nasdaq ended the week down by 2.7%, closing at 2461.2, ending an eight week bull run, but still putting on 2.4% in April.
The Nikkei closed up by 1.3% over the course of the week ending trading at 11057.4 but ended April worth 2% less than it began.
On the currency markets last week, the Dollar was mixed against other major currencies. Against the Euro, the US currency fell by just 0.03% over the course of the week, closing at 1.3315 to the Euro; over the month, the Dollar strengthened by 1.1%. The Greenback was stronger against the British Pound, rising by 0.3%, to close at 1.52993 to the Pound, but lost 0.5% of its value in April. The Dollar closed at 94.49 to the Yen, a gain of 0.5% on the week and an appreciation of 0.8% in April.
The Euro had a mixed week on the back of continuing uncertainty about the Greek debt situation. It rose by 0.6% against the Yen closing at 125.8, ending the month 0.4% lower. The Euro rose against Sterling over the week by 0.3%, the close saw one £ buying 1.149€, but ended the month lower by 1.7%
On the commodities market, the price for Brent crude was marginally higher, closing at $87.44 per barrel (for June delivery); a hike of 0.2% over the course of the week’s trading, but a rally of 4% over the course of the month. The value of gold strengthened again; closing at 1167 $ per ounce, representing a gain of 1.0% and an appreciation of 3.5% over the month.