By: Dr. Mike Campell
Last week saw all of the world’s major stock markets close higher for a second consecutive week. In Europe over the course of the week, the FTSE gained 1.1%, closing at 6062.9; the Dax put on 2.2% to close at 7371.2; the CAC rose by 1.3% to end the session at 4101.3.
The Dow ended the week higher to the tune of 1.5%, finishing the trading session at 12273. The Nasdaq ended the week higher, gaining 1.5% to close at 2809.4.
The Nikkei closed higher by 0.59% over the course of the week to end the trading session at 10605.
Currency Markets in Review
On the currency markets last week, the Dollar enjoyed the best of the trading. The Dollar was up against Sterling, making 0.61%, closing at 1.59915 to the Pound. The Greenback was stronger against the Euro last week, rising by 0.44% to close at 1.3524. The Dollar was higher against the Japanese currency, closing at 83.563 to the Yen, a gain of 1.8%.
The Euro closed up against the Yen ending at 113.01, making 1.4% over the course of the week. The Euro made ground against Sterling over the course of the week by 0.17%. The close saw one £ buying 1.18245.
Commodities in Review
On the commodities market, the price for Brent crude was higher, closing at $101.4 per barrel (for March delivery); a rise of 1.6% over the course of the week’s trading. The value of gold recovered further last week, closing at 1364 per ounce; representing a gain of 0.75% over last week’s value.