Last week was a largely positive affair for the world’s major markets with only the FTSE losing ground. Whilst the UK took a (non-binding) decision to leave the EU, it remains a member and the earliest exit talks may start is in the New Year.
In Europe over the course of the week, the FTSE was down on last week’s close by 3.6%, it closed at 6550.7; the Dax ended at 10713, up by 3.3% on last week’s close; the CAC was up by 2% to end the session at 4500.
The Dow ended the week up by 0.17% to close at 18576. The Nasdaq composite index ended up by 0.23% over the course of the week at 5232.9.
The Nikkei 225 ended the week’s trading up by 4.1% to end the session at 16919.
Currency Markets Review
On the currency markets last week the Euro enjoyed the best of the trading. The Dollar was stronger against Sterling last week closing at $1.2932 to the Pound, a gain of 1.0% on the week. The Greenback weakened against the Euro last week by 0.84% to close at $1.1172 to the €. The Dollar was weaker against the Japanese currency, closing at 101.0 Yen to the Dollar, making a loss of 0.79% during the week.
The Euro was marginally stronger against the Yen ending at 112.9, a gain of 0.05% over the course of the week. It made ground against Sterling last week, rising by 1.9%; the close saw one £ buying €1.1575.
The Euro now buys 1.0880 CHF, a gain of 0.22% on the week.
Commodities Market Review
On the commodities market, the price for Brent crude ended at $46.97 per barrel, a rise of 6.1% over the course of the week’s trading. The value of gold was higher last week, closing at $1352.2 per ounce, a gain of 1.3% on the week.