Last week again saw all of the major stock exchanges again close higher (well the Dow was essentially flat) and marked the end of the month. The US economy’s Q4 data was adjusted downwards and a deal to see Greece funded for four further months was all but agreed.
Europe over the course of the week, the FTSE was up by 0.45%, it closed at 6946.7, making 1.3% in February; the Dax ended at 11401.7, up by 3.2% on last week’s close and 4.9% over the month; the CAC was up by 2.5% to end the session at 4951.5 and rose by 5.3% in February.
The Dow ended the week flat down by 0.04% to close at 18133, but it made 1.7% over the course of the month. The Nasdaq composite index ended up by 0.15% over the course of the week at 4963.5, making 4.4% in February.
The Nikkei 225 ended the week’s trading up by 2.5% to end the session at 18798, a fresh 15 year-high and rising by 6.1% over the month.
Currency markets review
On the currency markets last week Sterling enjoyed the best of the trading. The Dollar was weaker against Sterling last week closing at $1.5436 to the Pound, a loss of 0.35% and a fall of 1.2% over the month. The Greenback strengthened against the Euro last week by 1.5% to close at $1.1195 to the €, it made 1.3% on the month. The Dollar was stronger against the Japanese currency, closing at 119.7 Yen to the Dollar, making a gain of 0.88% during the week and 0.51% in February.
The Euro weakened against the Yen ending at 134, a loss of 0.67% over the course of the week and 0.75% in February. It lost ground against Sterling last week, falling by 1.9%; the close saw one £ buying €1.3788 a fall of 2.5% over the month
The Euro now buys 1.0650 CHF, a loss of 0.58% on the week, but it strengthened by 1.7% over the month, providing further evidence of the SNB’s involvement since it fell against other majors.
Commodities market review
On the commodities market, the price for Brent crude ended at $62.6 per barrel, a rise of 4.1% over the course of the week’s trading and 7.2% on the month. The value of gold was higher last week, closing at $1214 per ounce, a gain of 0.48% on the week, but a fall of 2.2% over the course of February.