Last week was a positive affair for the world’s major markets – for once - with all of the majors making gains. The oil price strengthened further.
In Europe over the course of the week, the FTSE was up by 2.3%, it closed at 6343.8; the Dax ended at 10052, up by 4.5% on last week’s close; the CAC was up by 4.5% to end the session at 4495.2.
The Dow ended the week up by 1.8% to close at 17897. The Nasdaq composite index ended up by 1.8% over the course of the week at 4938.2.
The Nikkei 225 ended the week’s trading up by 6.5% to end the session at 16848.
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 $1.4213 to the Pound, a fall of 0.76% on the week. The Greenback rose against the Euro last week by 0.99% to close at $1.1292 to the €. The Dollar was stronger against the Japanese currency, closing at 108.8 Yen to the Dollar, making a gain of 0.37% during the week.
The Euro was weaker against the Yen ending at 122.8, a loss of 0.77% over the course of the week. It lost ground against Sterling last week, falling by 1.8%; the close saw one £ buying €1.2587.
The Euro now buys 1.0921 CHF, a gain of 0.42% on the week.
Commodities market review
On the commodities market, the price for Brent crude ended at $43.1 per barrel, a rise of 2.8% over the course of the week’s trading. The value of gold was lower last week, closing at $1234.2 per ounce, a loss of 0.43% on the week.