Last week saw all of the major stock exchanges again close higher, this has been attributed to optimism that a solution will be found to Greece’s financial crisis, in part at least.
Europe over the course of the week, the FTSE was up by 0.61%, it closed at 6915.2; the Dax ended at 11050.6, up by 0.8% on last week’s close; the CAC was up by 1.5% to end the session at 4830.1.
The Dow ended the week up by 0.67% to close at 18140. The Nasdaq composite index ended up by 1.3% over the course of the week at 4956.
The Nikkei 225 ended the week’s trading up by 2.3% to end the session at 18332, a 15 year-high.
Currency markets review
On the currency markets last week the Yen enjoyed the best of the trading, but only the Euro showed any real change. The Dollar was strongerer against Sterling last week closing at $1.5382 to the Pound, a gain of just 0.06%. The Greenback strengthened against the Euro last week by 0.32% to close at $1.137 to the €. The Dollar was marginally weaker against the Japanese currency, closing at 118.7 Yen to the Dollar, making a loss of 0.03% during the week.
The Euro weakened against the Yen ending at 135.4, a loss of 0.34% over the course of the week. It lost ground against Sterling last week, falling by 0.25%; the close saw one £ buying €1.3528.
The Euro now buys 1.0712 CHF, a gain of 0.87% having rallied again this week despite the fact that it fell against other majors and giving further evidence that the SNB is trying to soften its currency against that of its major trading partner.
Commodities market review
On the commodities market, the price for Brent crude ended at $60.1 per barrel, a fall of 2.3% over the course of the week’s trading. The value of gold was lower last week, closing at $1208.3 per ounce, a loss of 2%.