All of the world’s major markets ended the week up strongly, despite the fact that Greece is still waiting for a decision on its bailout and the EU could not come to consensus over the EU budget demands set by the Commission.
In Europe over the course of the week, the FTSE was up by 3.8%, it closed at 5819.1; the Dax ended at 7309.1, climbing by 5.1% over the course of the week; the CAC was up by 5.6% to end the session at 3528.8.
The Dow ended the week weaker higher to the tune of 3.4% at 13009.7. The Nasdaq composite index ended at 2966.9, putting on 4% over the course of the week.
The Nikkei 225 ended the week’s trading higher, gaining 3.8% to end the session at 9366.8.
Currency Markets Review
On the currency markets last week, the Euro saw the best of trading. The Dollar weakened against Sterling, shedding 1.1% and closing at 1.60315 to the Pound. The Greenback fell back against the Euro last week, shedding 2.1% to close at 1.29761. The Dollar made ground against the Japanese currency, closing at 82.405 to the Yen, a gain of 1.2% on the week.
The Euro strengthened against the Yen ending at 106.9292, a gain of 3.3% over the course of the week. The Euro was also stronger against Sterling over the course of the week, rising by 0.98%; the close saw one £ buying €1.23546.
Commodities Market Review
On the commodities market, the price for Brent crude ended higher, closing at $111 per barrel (for January delivery); a rise of 2.2% over the course of the week’s trading. The value of gold was higher last week, closing at $1734.5 per ounce, representing a gain of 1.2% over last week’s value.