By: Dr. Mike Campbell
Last week was a mixed affair for the world’s major stock exchanges with some losses, some gains and some markets marking time.
In Europe over the course of the week, the FTSE was flat, putting on just 0.09% and closed at 5733.5; the Dax ended the week at 6512, making 1.7% over the week; the CAC was also flat, falling by just 0.08% to end the session at 3318.8.
The Dow ended the week lower to the tune of 0.47% at 12660.5 The Nasdaq composite index ended the week at 2816.6, climbing by 1.1% over the course of the trading week.
The Nikkei closed up over the course of the week’s trading, gaining 0.85% to end the trading session at 8841.2.
Currency Markets Review
On the currency markets last week, the Euro again saw the best of trading. The Dollar was weaker against Sterling, falling 1.5% and closing at 1.57077 to the Pound. The Greenback weakened against the Euro last week, slipping 1.9% to close at 1.3145. The Dollar lost ground against the Japanese currency closing at 76.9722 to the Yen, a loss of 0.22% on the week.
The Euro was up against the Yen ending at 101.18 gaining 1.7% over the course of the week. The Euro was stronger against Sterling over the course of the week gaining 0.35%; the close saw one £ buying 1.19496.
Commodities Market Review
On the commodities market, the price for Brent crude ended higher, closing at $111.46 per barrel (for March delivery); a gain of 1.6% over the course of the week’s trading. The value of gold climbed last week, closing at $1726 per ounce, representing a gain of 4.4% over last week’s value.