By: Dr. Mike Campbell
For once, all the world’s major exchanges closed higher at the end of last week’s trading session.
In Europe over the course of the week, the FTSE rose by 1.6% and closed at 5728.6; the Dax ended the week at 6404.4, making 4.3% over the week; the CAC put on 3.9% to end the session at 3321.5.
The Dow ended the week higher to the tune of 2.4% at 12720.5 The Nasdaq composite index ended the week at 2786.7, climbing by 2.8% over the course of the trading week.
The Nikkei closed up over the course of the week’s trading, gaining 3.1% to end the trading session at 8766.4.
Currency Markets Review
On the currency markets last week, the Euro saw the best of trading. The Dollar was weaker against Sterling, falling 0.94% and closing at 1.54719 to the Pound. The Greenback weakened against the Euro last week, slipping 1% to close at 1.2902. The Dollar made ground against the Japanese currency closing at 77.1431 to the Yen, a gain of 0.47% on the week.
The Euro was up against the Yen ending at 99.53 gaining 1.5% over the course of the week. The Euro was marginally stronger against Sterling over the course of the week gaining 0.08%; the close saw one £ buying 1.9918.
Commodities Market Review
On the commodities market, the price for Brent crude ended lower, closing at $109.86 per barrel (for March delivery); a fall of 0.5% over the course of the week’s trading. The value of gold climbed last week, closing at $1653 per ounce, representing a gain of 1.1% over last week’s value.