With the ECB promising measures to force down the cost of sovereign borrowing in Europe, the markets all ended the week higher as a touch of optimism returned to the markets.
In Europe over the course of the week, the FTSE was up by 1.5%, it closed at 5794.8; the Dax ended at 7214.5 rising by 3.5% over the course of the week; the CAC was up by 3.1% to end the session at 3519.1.
The Dow ended the week higher to the tune of 1.7 % at 13306. The Nasdaq composite index ended at 3136.4, making 2.3% over the course of the week.
The Nikkei closed up over the course of the week’s trading, making 0.37% to end the trading session at 8871.7.
Currency Markets Review
On the currency markets last week, the Euro saw the best of trading. The Dollar was weaker against Sterling, shedding 0.94% and closing at 1.60152 to the Pound. The Greenback was weaker against the Euro last week, falling by 1.7% to close at 1.27592. The Dollar also lost ground against the Japanese currency, closing at 78.1442 to the Yen, a fall of 0.22%.
The Euro recovered against the Yen ending at 99.9872, a gain of 1.5% over the course of the week. The Euro was stronger against Sterling over the course of the week, making 0.73%; the close saw one £ buying 1.25165.
Commodities Market Review
On the commodities market, the price for Brent crude ended marginally lower, closing at $114.3 per barrel (for October delivery); a dip of 0.35% over the course of the week’s trading. The value of gold was higher last week, closing at $1728 per ounce, representing a gain of 4.8% over last week’s value.