Last week saw the major markets reversing the losses of the previous week, despite global demand remaining soft and the oil price at a fresh five-year low.
In Europe over the course of the week, the FTSE was up by 3.9%, it closed at 6545.3; the Dax ended at 9787, up by 2% on last week’s close; the CAC was up by 3% to end the session at 4241.7.
The Dow ended the week up by 3% to close at 17805. The Nasdaq composite index ended up by 2.4% over the course of the week at 4765.4.
The Nikkei 225 ended the week’s trading up by 1.4% to end the session at 17621.
Currency Markets Review
On the currency markets last week the Dollar enjoyed the best of the trading. The Dollar was stronger against Sterling last week closing at $1.5608 to the Pound, a gain of 0.75%. The Greenback strengthened against the Euro last week by 2% to close at $1.2233 to the €. The Dollar was stronger against the Japanese currency, closing at 119.6 Yen to the Dollar, making a gain of 1.1% during the week.
The Euro weakened against the Yen ending at 146.3, a loss of 0.9% over the course of the week. It lost ground against Sterling last week, falling by 1.3%; the close saw one £ buying €1.2758.
Commodities Market Review
On the commodities market, the price for Brent crude ended at $61.4 per barrel (for February delivery), a fall of 3.6% over the course of the week’s trading. The value of gold was lower last week, closing at $1195.5 per ounce, a fall of 1.8%.