Last week was a negative affair for the world’s major markets, with only the FTSE making any gains. The oil price strengthened, breaking the link between falling oil and negative sentiment, for once. The pessimism can probably be traced to a Dovish posture from the Fed which emerged from the latest minutes.
In Europe over the course of the week, the FTSE was up by 0.95%, it closed at 6204.4; the Dax ended at 9622.3, down by 1.8% on last week’s close; the CAC was down by 0.44% to end the session at 4303.1.
The Dow ended the week down by 1.2% to close at 17577. The Nasdaq composite index ended down by 1.3% over the course of the week at 4850.7.
The Nikkei 225 ended the week’s trading down by 2.1% to end the session at 15822.
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 $1.4105 to the Pound, a gain of 0.7% on the week. The Greenback fell against the Euro last week by 0.22% to close at $1.1405 to the €. The Dollar was weaker against the Japanese currency, closing at 108.4 Yen to the Dollar, making a loss of 3.3% during the week.
The Euro was weaker against the Yen ending at 123.6, a loss of 3.1% over the course of the week. It made ground against Sterling last week, rising by 0.92%; the close saw one £ buying €1.2368.
The Euro now buys 1.0875 CHF, a loss of 0.35% on the week.
Commodities market review
On the commodities market, the price for Brent crude ended at $41.94 per barrel, a rise of 8.5% over the course of the week’s trading. The value of gold was higher last week, closing at $1239.5 per ounce, a gain of 1.4% on the week.