Last week again saw all the world’s major stock markets losing ground quite heavily on deepening fears of a global economic slowdown.
In Europe over the course of the week, the FTSE was down by 2.9%, it closed at 6340; the Dax ended at 8788.8, down by 4.4% on last week’s close; the CAC was down by 4.9% to end the session at 4073.7.
The Dow ended the week down by 2.7% to close at 16544. The Nasdaq composite index ended down by 4.5% over the course of the week at 4276.2.
The Nikkei 225 ended the week’s trading down by 2.6% to end the session at 15301.
Currency Markets Review
On the currency markets last week, the Yen saw the best of the trading with the Dollar retreating from recent gains. The Dollar was weaker against Sterling last week closing at $1.6045 to the Pound; a loss of 0.53% over the week. The Greenback weakened against the Euro last week by 0.96% to close at $1.2634 to the €. The Dollar was weaker against the Japanese currency, closing at 107.8 Yen to the Dollar, making a loss of 1.7% during the week.
The Euro weakened against the Yen ending at 136.3, a loss of 0.76% over the course of the week. It made ground against Sterling last week climbing by 0.43%; the close saw one £ buying €1.2699.
Commodities Market Review
On the commodities market, the price for Brent crude ended lower at $89.8 per barrel (for November delivery), a fall of 2.7% over the course of the week’s trading. The value of gold was higher last week, closing at $1219 per ounce, a gain of 2%.