By: Dr. Mike Campbell
Last week was a mixed affair for the world’s major markets.
In Europe over the course of the week, the FTSE rose by 2.1% and closed at 5772.2; the Dax ended the week at 6750.1, climbing 2.5% over the week; the CAC was essentially flat last week, losing 0.02% to end the session at 3188.6.
The Dow ended the week higher to the tune of 1.4 % at 13029. The Nasdaq composite index ended the week at 3000.5 slipping 0.36% over the course of the week.
The Nikkei closed down over the course of the week’s trading, falling 0.8% to end the trading session at 9561.4.
Currency Markets Review
On the currency markets last week, Sterling saw the best of trading. The Dollar was weaker against Sterling, falling 0.33% and closing at 1.61124 to the Pound. The Greenback also weakened against the Euro last week, dipping 0.33% to close at 1.3192. The Dollar gained some ground against the Japanese currency, closing at 81.7238 to the Yen, a rise of 0.9% on the week.
The Euro strengthened against the Yen ending at 107.81, a gain of 1.3% over the course of the week. The Euro was weaker against Sterling over the course of the week, falling by 0.74%; the close saw one £ buying 1.22137.
Commodities Market Review
On the commodities market, the price for Brent crude ended lower, closing at $118.8 per barrel (for June delivery); a fall of 2.5% over the course of the week’s trading. The value of gold was also weaker last week, closing at $1641.5 per ounce, representing a fall of 1.5% over last week’s value.