By: Dr. Mike Campbell
Last week was a poor week for the world’s major stock exchanges with only the Nikkei putting on any value.
In Europe over the course of the week, the FTSE lost 0.82% and closed at 5852.4; the Dax ended the week at 6693, slipping by 1.1% over the week; the CAC also dipped, shedding 1.6% to end the session at 3373.1.
The Dow ended the week lower to the tune of 0.47% at 12801.2. The Nasdaq composite index ended the week at 2903.97, largely unchanged over the course of the trading week, falling just 0.06%.
The Nikkei closed up over the course of the week’s trading, making 1.3% to end the trading session at 8947.2.
Currency Markets Review
On the currency markets last week, the Euro saw the best of trading. The Dollar was stronger against Sterling, climbing 0.27% and closing at 1.57707 to the Pound. The Greenback weakened against the Euro last week, slipping 0.22% to close at 1.3189. The Dollar made ground against the Japanese currency, closing at 77.6632 to the Yen, a gain of 1.9% on the week.
The Euro rose against the Yen ending at 102.43 climbing 2.1% over the course of the week. The Euro was also stronger against Sterling over the course of the week, gaining 0.49%; the close saw one £ buying 1.19574.
Commodities Market Review
On the commodities market, the price for Brent crude ended higher, closing at $117.3 per barrel (for March delivery); a gain of 2.4% over the course of the week’s trading. The value of gold slipped last week, closing at $1711 per ounce, representing a loss of 1.3% over last week’s value.