By: Dr. Mike Campbell
Last week saw the world’s major stock exchanges again all close lower, with the exception of the Nasdaq which was flat. In Europe over the course of the week, the FTSE fell by 0.85%, closing at 5925.9; the Dax shed 1.2% to close at 7402.3; the CAC weakened by 0.97% to end the session at 401.9.
The Dow ended the week down by 0.34%, finishing the trading session at 12595.8. The Nasdaq ended the week essentially flat, making just 0.03% to close at 2828.5.
The Nikkei declined over the course of the week, dipping by 2.1% to end the trading session at 9648.7..
Currency Markets Review
On the currency markets last week, the Dollar (for once) had the best of the trading. The Dollar was stronger against Sterling, gaining 0.86% closing at 1.6265 to the Pound. The Greenback strengthened against the Euro last week, making 1.5% to close at 1.4280. The Dollar also made ground against the Japanese currency, closing at 80.7563 to the Yen, a gain of 0.52% on the week.
The Euro closed down against the Yen ending at 115.3, falling by 1% over the course of the week. The Euro lost ground against Sterling over the course of the week by 0.68%; the close saw one £ buying 1.13902.
Commodities Market Review
On the commodities market, the price for Brent crude ended higher, closing at $113.83 per barrel (for June delivery); a gain of 4.7% over the course of the week’s trading. The value of gold climbed last week, closing at 1505.8 per ounce; representing a gain of 1.3% over last week’s value.