By: Dr. Mike Campbell
Last week saw the world’s major stock exchanges again all close lower for the third week in a row, with the single exception of the FTSE this time. In Europe over the course of the week, the FTSE put on a modest 0.38%, closing at 5948.5; the Dax shed 1.8% to close at 7266.8; the CAC weakened by 0.70% to end the session at 3990.5.
The Dow ended the week down by 0.67 finishing the trading session at 12512 Nasdaq ended the week down by 0.89% to close at 2803.3.
The Nikkei declined over the course of the week, dipping by 0.43% to end the trading session at 9607.1.
Currency Markets Review
On the currency markets last week, the Dollar again had the best of the trading. The Dollar was stronger against Sterling, gaining 0.20% closing at 1.6233 to the Pound. The Greenback strengthened against the Euro last week, making 0.3% to close at 1.4237. The Dollar also made ground against the Japanese currency, closing at 81.6675 to the Yen, a gain of 1.1% on the week.
The Euro closed up against the Yen ending at 116.27, gaining 0.95% over the course of the week. The Euro lost ground against Sterling over the course of the week by 0.10%; the close saw one £ buying 1.1402.
Commodities Market Review
On the commodities market, the price for Brent crude ended lower, closing at $113.83 per barrel (for July delivery); a slide of 1.3% over the course of the week’s trading. The value of gold relaxed back last week, closing at 1490.8 per ounce and representing a decline of 1.0% over last week’s value.