All of the world’s major stock markets ended the week lower with worries about the weakness of the Eurozone economies and the US fiscal cliff deadline prevailing.
In Europe over the course of the week, the FTSE was down by 1.7%, it closed at 5769.7; the Dax ended at 7163.5, retreating by 2.7% over the course of the week; the CAC was down by 2% to end the session at 3423.6.
The Dow ended the week weaker lower to the tune of 2.1 % at 12815.4. The Nasdaq composite index ended at 2904.9, shedding 2.6% over the course of the week.
The Nikkei 225 ended the week’s trading lower, slipping by 3.2% to end the session at 8757.6.
Currency Markets Review
On the currency markets last week, the Yen saw the best of trading. The Dollar strengthened against Sterling, making 0.77% and closing at 1.59117 to the Pound. The Greenback was stronger against the Euro last week, making 1% to close at 1.27152. The Dollar lost ground against the Japanese currency, closing at 79.46786 to the Yen, a fall of 1.3% on the week.
The Euro weakened against the Yen ending at 101.0509, a loss of 2.3% over the course of the week. The Euro was also weaker against Sterling over the course of the week, falling by 0.25%; the close saw one £ buying 1.25132.
Commodities Market Review
On the commodities market, the price for Brent crude ended higher, closing at $109.4 per barrel (for December delivery); a rise of 3.5% over the course of the week’s trading. The value of gold was higher last week, closing at $1738.3 per ounce, representing a gain of 3.2% over last week’s value.