Last week saw the major markets losing ground with the surprise exception of Germany’s Dax. Poor economic indicators out of Germany were partially blamed for sending the Euro to fresh nine-year lows against the Dollar, so it is counterintuitive that the Dax should be the only major to gain this week.
In Europe over the course of the week, the FTSE was down by 0.71%, it closed at 6501.1; the Dax ended at 9648.5, up by 1.5% on last week’s close; the CAC was down by 1.7% to end the session at 4179.1.
The Dow ended the week down by 0.54% to close at 17737. The Nasdaq composite index ended down by 0.48% over the course of the week at 4704.1.
The Nikkei 225 ended the week’s trading down by 1.4% to end the session at 17621.
Currency Markets Review
On the currency markets last week the Yen enjoyed the best of the trading. The Dollar was stronger against Sterling last week closing at $1.515 to the Pound, a gain of 1.4%. The Greenback strengthened against the Euro last week by 1.5% to close at $1.1834 to the €. The Dollar was weaker against the Japanese currency, closing at 118.6 Yen to the Dollar, making a loss of 1.4% during the week.
The Euro weakened against the Yen ending at 140.3, a loss of 2.8% over the course of the week. It lost ground against Sterling last week, falling by 0.1%; the close saw one £ buying €1.2802.
Commodities Market Review
On the commodities market, the price for Brent crude ended at $50.1 per barrel (for February delivery), a fall of 136% over the course of the week’s trading. The value of gold was higher last week, closing at $1217.8 per ounce, a gain of 3.9%.