Last week saw all of the major markets close higher on encouraging economic indicators and despite continuing geopolitical tensions over Syria and the response to its alleged use of chemical weapons.
In Europe over the course of the week, the FTSE was up by 2.1%, it closed at 6547.3; the Dax ended at 8275.7 climbing by 2.1% over the course of the week; the CAC was up by 2.9% to end the session at 4049.1.
The Dow ended the week higher, gaining 0.76% to end at 14922.5. The Nasdaq composite index ended at 3660, strengthening by 2% over the course of the week.
The Nikkei 225 ended the week’s trading up by 3.5% to end the session at 13861.
Currency Markets Review
On the currency markets last week, Sterling saw the best of trading. The Dollar was weaker against Sterling last week, closing at $1.5469 to the Pound; a gain of 0.67% over the week, but still weakened by 1.3% in August. The Greenback strengthened against the Euro last week by 1.4% to close at $1.3198 to the € and by 0.53% over the month. The Dollar was weaker against the Japanese currency, closing at 98.20 Yen to the Dollar, making a loss of 0.41% during the week and slipping by 0.83% during the month.
The Euro fell against the Yen ending at 129.6, a loss of 1.8% over the course of the week and 1.4% on the month. It lost ground against Sterling last week falling by 0.77%; the close saw one £ buying €1.1721, representing a loss of 1.8% over the month.
Commodities Market Review
On the commodities market, the price for Brent crude ended higher, at $114 per barrel (for October delivery); a rise of 2.7% over the course of the week’s trading and 4.6% during August. The value of gold was higher last week, closing at $1394.8 per ounce, representing a gain of 1.3% over the previous week’s value and 6.5% on the month.