Last week was largely positive for the world’s major markets with only the Nikkei falling significantly. The markets were buoyed by an unexpected majority win for the UK Conservative party in the British general election and positive US employment figures.
In Europe over the course of the week, the FTSE was up by 0.87%, it closed at 7046.8; the Dax ended at 11710, up by 2.2% on last week’s close; the CAC was up by 0.87% to end the session at 5090.4.
The Dow ended the week up by 0.93% to close at 18191. The Nasdaq composite index ended essentially unchanged, down by 0.04% over the course of the week at 5003.6.
The Nikkei 225 ended the week’s trading down by 0.78% to end the session at 19379.
Currency markets review
On the currency markets last week Sterling enjoyed the best of the trading on the back of the unpredicted Tory majority in the election. The Dollar was weaker against Sterling last week closing at $1.5453 to the Pound, a loss of 2.1%. The Greenback fell against the Euro last week by 0.35% to close at $1.124 to the €. The Dollar was weaker against the Japanese currency, closing at 119.8 Yen to the Dollar, making a loss of 0.32% during the week.
The Euro was essentially unchanged against the Yen ending at 134.6, a gain of 0.03% over the course of the week. It lost ground against Sterling last week, falling by 1.7%; the close saw one £ buying €1.3748.
The Euro now buys 1.0423 CHF, a gain of 1.2% on the week.
Commodities market review
On the commodities market, the price for Brent crude ended at $65.4 per barrel, a fall of 1.6% over the course of the week’s trading. The value of gold was higher last week, closing at $1186.9 per ounce, a gain of 0.8% on the week.