All of the world’s major markets ended higher on the strength of the bipartisan agreement to fund the US government and authorise a raise in borrowing – at least until the New Year.
In Europe over the course of the week, the FTSE was up by 2.1%, it closed at 6622.6; the Dax ended at 8865.1 rising by 1.6% over the course of the week; the CAC was up by 1.6% to end the session at 4286.
The Dow ended the week higher, gaining 1.1% to end at 15400. The Nasdaq composite index ended at 3914.3, rising by 3.2% over the course of the week.
The Nikkei 225 ended the week’s trading up by 1.1% to end the session at 14562.
Currency Markets Review
On the currency markets last week, Sterling saw the best of the trading. The Dollar was weaker against Sterling last week, closing at $1.6184 to the Pound; a fall of 1.5% over the week. The Greenback weakened against the Euro last week by 1% to close at $1.3695 to the €. The Dollar was weaker against the Japanese currency, closing at 97.8 Yen to the Dollar, making a slip of 0.65% during the week.
The Euro rose against the Yen ending at 133.9, a gain of 0.35% over the course of the week. It lost ground against Sterling last week falling by 0.5%; the close saw one £ buying €1.1818
Commodities Market Review
On the commodities market, the price for Brent crude ended lower, at $109.9 per barrel (for December delivery); a fall of 1.2% over the course of the week’s trading. The value of gold was higher last week, closing at $1316.5 per ounce, representing a rise of 4% over the previous week’s value.