Last week was a negative affair for the world’s major stock markets with all markets falling except for the FTSE which was unchanged. Tensions continue to simmer in the Gulf with the detention of two British flagged vessels, one of which is still held, and US navy claims to have shot down an Iranian drone that approached one of its warships too closely.
In Europe over the course of the week, the FTSE was marginally up on last week’s close by 0.04% at 7508.7; the Dax ended at 12260, 0.51% down on last week’s close; the CAC was down by 0.37% to end the session at 5552.3.
The Dow ended the week down by 0.65% to close at 27154. The Nasdaq composite index was down by 1.2% over the course of the week at 8146.5.
The Nikkei 225 ended the week’s trading down by 1% to end the session at 21467.
Currency markets review
On the currency markets last week, the Yen again enjoyed the best of the trading as Brexit fears continue to weigh on Sterling. The Dollar was stronger against Sterling last week closing at $1.2496 to the Pound, a gain of 0.47% on the week. The Greenback was stronger against the Euro last week, rising by 0.31% to close at $1.1221 to the Euro.
The Dollar weakened against the Japanese currency closing at 107.7 Yen to the Dollar, making a loss of 0.26% during the week.
The Euro was weaker against the Yen ending at 120.9, a loss of 0.59% over the course of the week. It was stronger against Sterling last week, the close saw one £ buying €1.1136, a gain of 0.17% on the week.
The Euro now buys 1.1022 CHF, a loss of 0.53% on the week.
Commodities market review
On the commodities market, the price for Brent crude ended at $62.47 per barrel, a fall of 6,4% over the course of the week’s trading. The value of gold was higher last week closing at $1436.2. per ounce, a rise of 1.9% over the week.