By: Dr. Mike Campbell
All of the world’s major stock exchanges closed higher last week. In Europe over the course of the week, the FTSE put on 1.16%, closing at 5657.6; the Dax made 1.3%, ending the week at 6291.7; the CAC gained 1.9% to end the session at 3763.2.
The Dow ended the week stronger by 1.6%, finishing the trading session at 11006.5 The Nasdaq ended the week higher by 1.3%; closing at 2401.9.
The Nikkei closed up by 2.0% over the course of the week ending trading at 9588.9.
On the currency markets last week, the Yen had the best of the trading. The Dollar was weaker against Sterling by 0.21% closing at 1.5854 to the Pound. The Greenback was weaker against the Euro by 1.1%, to close at 1.3874. The Dollar was lower against the Japanese currency at 82.3194 to the Yen, a loss of 1.1% on the week. It has hit fresh 15 year lows against the Yen.
The Euro closed flat against the Yen closing at 114.21, dropping 0.04%. The Euro strengthened against Sterling over the course of the week by 0.86%. The close saw one £ buying 1.1427€.
On the commodities market, the price for Brent crude was higher, closing at $84 per barrel (for November delivery); a rise of 0.33% over the course of the week’s trading. The value of gold rose to 1347.5 per ounce, representing a gain of 2.3% over last week’s value; a new record high.