By: Dr. Mike Campbell
All of the world’s major stock markets closed higher, compared to how they stood last week. In Europe over the course of the week, the FTSE gained 1.4%, closing at 5332.4; the Dax rose by 1.8%, ending the week at 6259.6; the CAC climbed by 2% to end the session at 3716.1.
The Dow ended the week up by 1.8%, finishing the trading session at 10653.6. The Nasdaq ended the week stronger by 1.5 %; closing at 2288.5.
The Nikkei closed up by 1.1% over the course of the week; again, the weakest performance of the major markets (but still showing growth), ending trading at 9642.1.
Currency Markets
On the currency markets last week the Dollar was lower against Sterling by 1.7% closing at 1.5873 to the Pound. The Greenback was weaker against the Euro by 1.1%, to close at 1.3176. The Dollar was also down against the Japanese currency at 85.8682 to the Yen, a fall of 0.67% on the week.
The Euro made ground against the Yen closing at 113.14, gaining 0.46%. The Euro weakened against Sterling over the course of the week by 0.58%. The close saw one £ buying 1.2047€.
Commodities Market
On the commodities market, the price for Brent crude was up, closing at $80.2 per barrel (for September delivery); a hike of 2.5% over the course of the week’s trading. The value of gold recovered marginally to 1193.6 per ounce, representing a gain of 2.1% over last week’s value.