By: Dr. Mike Campbell
All of the world’s major stock exchanges closed higher last week with the exception of the Nikkei. In Europe over the course of the week, the FTSE put on 0.81%, closing at 5703.4; the Dax made 3.2%, ending the week at 6492.3; the CAC gained 1.7% to end the session at 3827.4.
The Dow ended the week stronger by 0.51%, finishing the trading session at 11062.8 The Nasdaq ended the week higher by 2.8%; closing at 2468.8.
The Nikkei closed down by 0.92% over the course of the week ending trading at 9500.3.
On the currency markets last week, the Euro had the best of the trading. The Dollar was weaker against Sterling by 1.3% closing at 1.6056 to the Pound. The Greenback was weaker against the Euro by 1.6%, to close at 1.4089. The Dollar was lower against the Japanese currency at 81.1129 to the Yen, a loss of 1.5% on the week. It has hit fresh 15 year lows against the Yen.
The Euro closed flat against the Yen closing at 114.28, gaining 0.06%. The Euro strengthened against Sterling over the course of the week by 0.27%. The close saw one £ buying 1.1396€.
On the commodities market, the price for Brent crude was lower, closing at $82.5 per barrel (for December delivery); a drop of 1.9% over the course of the week’s trading. The value of gold rose again, to close at 1377.3 per ounce, representing a gain of 2.2% over last week’s value; a new record high.