By: Dr. Mike Campbell
The last full trading week of 2011 saw all the world’s major markets make gains – except for the Nikkei which essentially stood still.
In Europe over the course of the week, the FTSE climbed by 2.3% and closed at 5512.7; the Dax ended the week at 5878.9, making 3.1% over the week; the CAC gained 4.4% to end the session at 3102.1.
The Dow ended the week higher to the tune of 3.6% at 12294. The Nasdaq composite index ended the week at 2618.6, gaining 2.5% over the course of the week.
The Nikkei closed down marginally over the course of the week’s trading, dropping 0.08% to end the trading session at 8395.2.
Currency Markets Review
On the currency markets last week, Sterling saw the best of trading. The Dollar was weaker against Sterling, shedding 0.84% and closing at 1.56728 to the Pound. The Greenback strengthened against the Euro last week, just, making 0.05% to close at 1.3057. The Dollar made ground against the Japanese currency closing at 78.0654 to the Yen, a gain of 0.28% on the week.
The Euro closed up against the Yen ending at 101.93 making 0.23% over the course of the week. The Euro was weaker against Sterling over the course of the week by 0.89%; the close saw one £ buying 1.20034.
Commodities Market Review
On the commodities market, the price for Brent crude ended higher, closing at $107.96 per barrel (for February delivery); a rise of 4.5% over the course of the week’s trading. The value of gold rose last week, closing at $1607.5 per ounce, representing a gain of 0.85% over last week’s value.