By: Dr. Mike Campell
Last week saw the world’s major stock exchanges all close higher, with the exception of the CAC. In Europe over the course of the week, the FTSE made 0.71%, closing at 6018.3; the Dax put on 1.1% to close at 7295.45; the CAC fell by 0.99% to end the session at 4021.88.
The Dow ended the week stronger by 1.3%, finishing the trading session at 12506. The Nasdaq ended the week up by 2% to close at 2820.2.
The Nikkei strengthened over the course of the week by 0.84% to end the trading session at 9672.
On the currency markets last week, the Yen again had the best of the trading. The Dollar was down against Sterling, losing 1.2% closing at 1.6548 to the Pound. The Greenback lost ground against the Euro last week, shedding 0.93% to close at 1.4584. The Dollar also lost ground against the Japanese currency, closing at 81.85 to the Yen, a fall of 1.7%.
The Euro closed down against the Yen ending at 119.52, losing 0.71% over the course of the week. The Euro lost ground against Sterling over the course of the week by 0.28%. The close saw one £ buying 1.1347.
On the commodities market, the price for Brent crude ended marginally higher on continuing volatility in the markets caused by the situation in Libya, closing at $123.99 per barrel (for June delivery); a hike of 0.44% over the course of the week’s trading. The value of gold hit a new record last week, closing at 1504 per ounce; representing a gain of 1.9% over last week’s value and reflecting continued uncertainty amongst investors who traditionally head to gold in times of trouble