By: Dr. Mike Campbell
Last week was a poor affair for the world’s major markets with all of them falling on disappointing US employment figures and other indicators that suggest a slowdown.
In Europe over the course of the week, the FTSE was down by 2.19%, it closed at 5665.1; the Dax ended the week at 6561.5, falling 3.5% over the week; the CAC was off by 3.2% to end the session at 3161.5.
The Dow ended the week lower to the tune of 1.4 % at 13038. The Nasdaq composite index ended the week at 2956.3 dropping 3.7% over the course of the week.
The Nikkei closed down over the course of the week’s trading, falling 1.5% to end the trading session at 9380.3.
Currency Markets Review
On the currency markets last week, the Yen saw the best of trading. The Dollar was stronger against Sterling, making 0.32% and closing at 1.61734 to the Pound. The Greenback was also stronger against the Euro last week, rising by 0.73% to close at 1.3132. The Dollar lost some ground against the Japanese currency, closing at 80.2696 to the Yen, a fall of 0.53% on the week.
The Euro weakened against the Yen ending at 105.41, a fall of 1.3% over the course of the week. The Euro was weaker against Sterling over the course of the week, falling by 0.41%; the close saw one £ buying 1.2316.
Commodities Market Review
On the commodities market, the price for Brent crude ended lower, closing at $113.2 per barrel (for June delivery); a fall of 5.6% over the course of the week’s trading. The value of gold was also lower last week, closing at $1643.8 per ounce, representing a fall of 1.2% over last week’s value.