With the exception of Japan’s Nikkei, the world’s major markets ended higher, shaking of geopolitical fears as the Russian annexation of Crimea seems to be (largely) bloodless and negative sentiment at the latest “Taper” eased by the end of the week.
In Europe over the course of the week, the FTSE was up by 0.45%, it closed at 6557.2; the Dax ended at 9342.9, up by 3.2% on last week’s close; the CAC was up by 2.8% to end the session at 4335.3.
The Dow ended the week up by 1.5% to end at 16303. The Nasdaq composite index ended up by 0.74% over the course of the week at 4276.8.
The Nikkei 225 ended the week’s trading down by 0.72% to end the session at 14224.
Currency Markets Review
On the currency markets last week, the Dollar, for once, saw the best of the trading, as investors supposedly supported it on the promise of a 2015 hike in interest rates (yeah, well…). The Dollar was stronger against Sterling last week, closing at $1.6493 to the Pound; a gain of 0.78% over the week. The Greenback strengthened against the Euro last week by 0.94% to close at $1.3788 to the €. The Dollar was stronger against the Japanese currency, closing at 102.3 Yen to the Dollar, making a gain of 0.85% during the week.
The Euro was weaker against the Yen ending at 141.1, a loss of 0.1% over the course of the week. It lost ground against Sterling last week falling by 0.16%; the close saw one £ buying €1.1963.
Commodities Market Review
On the commodities market, the price for Brent crude ended lower at $106.9 per barrel (for May delivery); a fall of 1.5% over the course of the week’s trading. The value of gold was lower last week, closing at $1336 per ounce, representing a slip of 3.5% over the previous week’s value.