By: Dr. Mike Campbell
All of the world’s major stock exchanges closed lower last week with the exception of the Nasdaq, but the Nikkei was the only market to end the month lower. In Europe over the course of the week, the FTSE shed on 1.2%, closing at 5675.2, but it gained 1.5% over the month; the Dax was flat, shedding just 0.07% and ending the week at 6601.4, a rise of 6.3% in October; the CAC fell by 0.9% to end the session at 3833.5, but it made 3.8% over the course of the month.
The Dow ended the week weaker by 0.13%, finishing the trading session at 11118.5, but it made 2.7% in October. The Nasdaq ended the week higher by 1.1%; closing at 2507.4, putting on 5.8% over the month.
The Nikkei closed down by a further 2.4% over the course of the week ending trading at 9202.5, representing a loss of 2.2% during October.
On the currency markets last week, the Yen had the best of the trading. The Dollar was weaker against Sterling by 1.6% closing at 1.5953 to the Pound and has fallen by 0.84% over the month. The Greenback was up against the Euro by 0.55%, to close at 1.3857, but ended the month worth 1% less. The Dollar was down against the Japanese currency at 80.7318 to the Yen, a fall of 0.61% on the week. Over the course of October, the Dollar has depreciated by a further 3% against the Yen.
The Euro closed down against the Yen closing at 111.87, losing 1.2% last week; it ended October 2% lower against the Yen. The Euro fell against Sterling over the course of the week by 2.2%. The close saw one £ buying 1.15128€, virtually unchanged over the month (-0.11%).
On the commodities market, the price for Brent crude was marginally higher, closing at $83.15 per barrel (for December delivery); a rise of 0.2% over the course of the week’s trading. It fell by 0.7% during October. The value of gold resumed its upwards trend, closing at 1344.4 per ounce, representing a gain of 1.6% over last week’s value and has put on 2% over the month.