By: Dr. Mike Campbell
Last week saw all the world’s major markets close lower, with the exception of the Nasdaq.
In Europe over the course of the week, the FTSE fell by 1.9% and closed at 5854.9; the Dax ended the week at 6995.6 slipping 2.3% over the week; the CAC also fell, losing 3.3% to end the session at 3476.2.
The Dow ended the week lower to the tune of 1.2% at 13080.7. The Nasdaq composite index was the only major index to make a gain and ended the week at 3067.9, rising 0.4% over the course of the week.
The Nikkei closed down over the course of the week’s trading, falling 1.2% to end the trading session at 10011.5.
Currency Markets Review
On the currency markets last week, the Yen saw the best of trading. The Dollar was weaker against Sterling, falling 0.14% and closing at 1.5834 to the Pound. The Greenback also weakened against the Euro last week, falling 0.96% to close at 1.3242. The Dollar lost some of its recent gains against the Japanese currency, closing at 82.3894 to the Yen, a loss of 1.6% on the week.
The Euro weakened against the Yen ending at 109. 1, a gain of 0.65% over the course of the week. The Euro was stronger against Sterling over the course of the week, rising by 0.81%; the close saw one £ buying 1.19574.
Commodities Market Review
On the commodities market, the price for Brent crude ended lower, closing at $125.1 per barrel (for May delivery); a fall of 0.54% over the course of the week’s trading. The value of gold rose last week, closing at $1664 per ounce, representing a gain of 0.36% over last week’s value.