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 put on 4.4%, closing at 5428.2; the Dax rose by 3.1%, ending the week at 6134.6; the CAC put on 4.7% to end the session at 3672.2.
The Dow ended the week stronger by 2.9%, finishing the trading session at 10447.9. The Nasdaq ended the week higher by 3.7 %; closing at 2233.8.
The Nikkei also recovered some ground and closed up by 1.4% over the course of the week ending trading at 9114.1.
On the currency markets last week the Euro again had the best of the trading. The Dollar was stronger against Sterling by 0.6% closing at 1.5403 to the Pound. The Greenback was weaker against the Euro by 0.95%, to close at 1.2834. The Dollar was also down against the Japanese currency at 84.4476 to the Yen, a fall of 0.35% on the week.
The Euro gained ground against the Yen closing at 108.38, making 0.59%. The Euro strengthened against Sterling over the course of the week by 1.5%. The close saw one
£ buying 1.2002€.
On the commodities market, the price for Brent crude was flat, closing at $76.7 per barrel (for October delivery); a rise of 0.03% over the course of the week’s trading. The value of gold strengthened to 1251 per ounce, representing a gain of 0.86% over last week’s value.