Major markets ended the week higher, with the exception of the Nasdaq composite index, on renewed optimism that an agreement will be reached to raise America’s borrowing ceiling and reopen government, but no concrete deal has been struck yet.
In Europe over the course of the week, the FTSE was up by 0.52%, it closed at 6487.2; the Dax ended at 8724.8 rising by 1.2% over the course of the week; the CAC was up by 1.3% to end the session at 4220.
The Dow ended the week higher, gaining 1.1% to end at 15237. The Nasdaq composite index ended at 3791.9, slipping by 0.42% over the course of the week.
The Nikkei 225 ended the week’s trading up by 2.7% to end the session at 14405.
Currency Markets Review
On the currency markets last week, the Dollar saw the best of the trading. The Dollar was stronger against Sterling last week, closing at $1.5945 to the Pound; a gain of 0.75% over the week. The Greenback strengthened against the Euro last week by 0.17% to close at $1.3559 to the €. The Dollar was stronger against the Japanese currency, closing at 98.4 Yen to the Dollar, making a gain of 1.2% during the week.
The Euro rose against the Yen ending at 133.4, a gain of 1.1% over the course of the week. It made ground against Sterling last week rising by 0.59%; the close saw one £ buying €1.1759.
Commodities Market Review
On the commodities market, the price for Brent crude ended higher, at $111.3 per barrel (for November delivery); a rise of 1.7% over the course of the week’s trading. The value of gold was lower last week, closing at $1265.5 per ounce, representing a fall of 3.4% over the previous week’s value.