By: Dr. Mike Campbell
Last week marked the last trading session of April. It saw the world’s major stock exchanges all close higher. In Europe over the course of the week, the FTSE made 0.86%, closing at 6069.9.3 and making 1% over the month; the Dax put on 3% to close at 7514.5 representing a 4.7% gain on the month; the CAC strengthened by 2.1% to end the session at 4106.9 and end the month 1.3% higher.
The Dow ended the week stronger by 2.4%, finishing the trading session at 12810.5, a gain of 3.5% over the month. The Nasdaq ended the week up by 1.9% to close at 2873.5, representing a rise of 3% in April.
The Nikkei strengthened over the course of the week by 1.8% to end the trading session at 9849.7 and recovering by 1.4% over the month.
Currency Markets Review
On the currency markets last week, the Euro had the best of the trading. The Dollar was down against Sterling, losing 0.7% closing at 1.6665 to the Pound, it declined by 3.6% over the course of the month. The Greenback lost ground against the Euro last week, shedding 1.9% to close at 1.4860 and falling by 5.1% in April. The Dollar also lost ground against the Japanese currency, closing at 81.205 to the Yen, a fall of 0.79% on the week and 3.1% over the month.
The Euro closed higher against the Yen ending at 120.67, making 0.96% over the course of the week and strengthening by 1.8% over the month. The Euro gained ground against Sterling over the course of the week by 1.2%. The close saw one £ buying 1.12145, a decline of 1.1% on the month.
Commodities Market Review
On the commodities market, the price for Brent crude ended higher closing at $125 per barrel (for June delivery); a hike of 0.83% over the course of the week’s trading and a rise of 8.3% over the course of April. The value of gold strengthened again last week, closing at 1536 per ounce; representing a gain of 2.1% over last week’s value and a climb of 8.3% during the month of April.