Last week saw all of the world’s major markets in turmoil as investors continued to react to significant losses on the China stock market through the week, although the worst of it seemed to be easing off by week’s end. Friday was also the final trading session for August from the perspective of these summaries.
In Europe over the course of the week, the FTSE was up by 0.97%, it closed at 6247.9, but ended August down by 7%; the Dax ended at 10299, up by 1.7% on last week’s close but shedding 10.4% of its value over the month; the CAC was up by 0.95% to end the session at 4675.1 ending August weaker by 9.3%
The Dow ended the week down up 1.1% to close at 16643, falling by 4.2% on the month. The Nasdaq composite index ended up by 2.6% over the course of the week at 4828.3 but slipped by 4.3% in August.
The Nikkei 225 ended the week’s trading down by 1.5% to end the session at 19136, it saw 7.7% wiped of its value over the month.
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 $1.5358 to the Pound, a gain of 2.1%, but it still slipped by 1.2% over the month. The Greenback gained against the Euro last week by 1.7% to close at $1.1170 to the €, but weakened by 4.1% in August. The Dollar was weaker against the Japanese currency, closing at 121.3 Yen to the Dollar, making a loss of 0.63% during the week and 2.2% on the month.
The Euro was weaker against the Yen ending at 135.5, a loss of 2.3% over the course of the week, but it strengthened by 1.9% in August. It made ground against Sterling last week, rising by 0.42%; the close saw one £ buying €1.3750, making 2.9% on the month.
The Euro now buys 1.0748 CHF, a fall of 0.25% on the week, but a gain of 0.62% during the month.
Commodities market review
On the commodities market, the price for Brent crude ended at $50.05 per barrel, a gain of 10% over the course of the week’s trading and making 3% over the month. The value of gold was lower last week, closing at $1132.5 per ounce, a fall of 2.4% on the week, but it made 3.7% over the month.