By: Dr. Mike Campbell
Last week saw all the world’s major markets close higher as the Greek bailout was finalised and better economic news emerged from the USA.
In Europe over the course of the week, the FTSE rose by 1.3% and closed at 5965.6; the Dax ended the week at 7157.8 climbing 4% over the week; the CAC also rose, making 3.1% to end the session at 3594.8.
The Dow ended the week up to the tune of 2.4% at 13232.6. The Nasdaq composite index ended the week at 3055.3, making 2.4% over the week.
The Nikkei closed up over the course of the week’s trading, making 2% to end the trading session at 10129.8.
Currency Markets Review
On the currency markets last week, Sterling saw the best of trading. The Dollar was weaker against Sterling, falling 0.2% and closing at 1.58119 to the Pound. The Greenback strengthened against the Euro last week, climbing 0.57% to close at 1.3116. The Dollar made further ground against the Japanese currency, closing at 83.7222 to the Yen, a gain of 2.3% on the week.
The Euro strengthened against the Yen ending at 109.81, a gain of 1.7% over the course of the week. The Euro was weaker against Sterling over the course of the week, falling by 0.78%; the close saw one £ buying 1.20555.
Commodities Market Review
On the commodities market, the price for Brent crude ended lower, closing at $125.8 per barrel (for May delivery); a fall of 0.92% over the course of the week’s trading. The value of gold fell last week, closing at $1658 per ounce, representing a loss of 1.8% over last week’s value.