By: Dr. Mike Campbell
Political tensions are still pushing the oil price and feeding nervousness into the markets. In Europe over the course of the week, the FTSE shed 0.18%, closing at 5990.4; the Dax fell by just 0.08% to close at 7178.9; the CAC fell by 1.2% to end the session at 4020.2.
The Dow ended the week higher to the tune of 0.33%, finishing the trading session at 12169.9. The Nasdaq ended the week up, making 0.13% to close at 2784.7.
The Nikkei closed up by 1.6% to end the trading session at 10693.7.
Currency Market Review
On the currency markets last week, the Euro enjoyed the best of the trading. The Dollar was lower against Sterling, shedding 1.1% closing at 1.6266 to the Pound. The Greenback was weaker against the Euro last week, falling by 1.4% to close at 1.3957. The Dollar was stronger against the Japanese currency, closing at 82.8473 to the Yen, a gain of 1.3%.
The Euro closed up against the Yen ending at 115.63, gaining 2.8% over the course of the week. The Euro strengthened against Sterling over the course of the week by 0.32%. The close saw one £ buying 1.16543.
Commodities Market Review
On the commodities market, the price for Brent crude was again higher, closing at $116 per barrel (for April delivery); a rise of 3.4% over the course of the week’s trading. The value of gold rose further last week, closing at 1427 per ounce; representing a gain of 1.8% over last week’s value.