By: Dr. Mike Campbell
As financial markets come to terms with the Japanese natural disaster, markets have regained much of the ground lost the previous week. All of the markets closed higher.
In Europe over the course of the week, the FTSE recovered 3.2%, closing at 5900.8; the Dax restored 4.2% to close at 6946.4; the CAC put on 4.3% to end the session at 3972.4.
The Dow ended the week stronger to the tune of 3.1%, finishing the trading session at 12220.6 The Nasdaq ended the week higher by 3.8% to close at 2743.1.
The Nikkei restored 3.6% of its value to end the trading session at 9536.1.
Currency Markets Review
On the currency markets last week, there was little change, but the US Dollar had the best of the trading. The Dollar was stronger against Sterling, making 0.56% and closing at 1.608 to the Pound. The Greenback was marginally higher against the Euro last week, gaining 0.11% to close at 1.4115. The Dollar was fractionally stronger against the Japanese currency, closing at 81.169 to the Yen, a gain of 0.01%.
The Euro closed lower against the Yen ending at 114.57, losing 0.1% over the course of the week. The Euro strengthened against Sterling over the course of the week by 0.46%. The close saw one £ buying 1.13921.
Commodities Market Review
On the commodities market, the price for Brent crude ended higher due to volatility in the markets caused by the situation in Libya, closing at $115.59 per barrel (for May delivery); a gain of 1.5% over the course of the week’s trading. The value of gold also strengthened last week, closing at 1436 per ounce; representing a gain of 1.1% over last week’s value.