Last week was another uniformly bleak affair for the world’s major markets with continuing turmoil in Chinese markets and slumping oil prices.
In Europe over the course of the week, the FTSE was down by 5.3%, it closed at 5804.1; the Dax ended at 9545.3, down by 3.1% on last week’s close; the CAC was down by 2.9% to end the session at 4210.2%.
The Dow ended the week down by 2.2% to close at 15988. The Nasdaq composite index ended down by 3.3% over the course of the week at 4488.4.
The Nikkei 225 ended the week’s trading down by 3.1% to end the session at 17147.
Currency Markets Review
On the currency markets last week, the Yen again enjoyed the best of the trading, enjoying its safe haven status. The Dollar was stronger against Sterling last week closing at $1.4292 to the Pound, a gain of 1.6% on the week. The Greenback fell against the Euro last week by 0.73% to close at $1.0967 to the €. The Dollar was weaker against the Japanese currency, closing at 116.8 Yen to the Dollar, making a loss of 0.82% during the week.
The Euro was weaker against the Yen ending at 128.1, a loss of 0.09% over the course of the week. It made ground against Sterling last week, rising by 2.3%; the close saw one £ buying €1.3032.
The Euro now buys 1.0944 CHF, a gain of 0.8% on the week.
Commodities Market Review
On the commodities market, the price for Brent crude ended at $28.94 per barrel, a fall of 14% over the course of the week’s trading. The value of gold was lower last week, closing at $1089.4 per ounce, a loss of 1.1% on the week.