By: Dr. Mike Campbell

All the world’s markets ended the week higher as optimism and bargain hunting returned to markets. In Europe over the course of the week, the FTSE made 1.8% and closed at 5129.9; the Dax rose by 1.1% to close at 5537.5%; the CAC climbed by 2.3% to end the session at 3087.6.

The Dow ended the week up by 4.3%, finishing the trading session at 11284.5. The Nasdaq ended the week higher by 5.9%, to close at 2479.9.

The Nikkei strengthened over the course of the week, putting on 0.9% to end the trading session at 8797.8.

Currency Markets Review

On the currency markets last week, the Euro had the best of the trading. The Dollar was stronger against Sterling, making 1.7% and closing at 1.62615 to the Pound. The Greenback lost ground against the Euro last week, falling 0.12% to close at 1.4402. The Dollar made ground against the Japanese currency, closing at 76.663 to the Yen, a gain of 0.25% on the week.

The Euro closed up against the Yen ending at 110.4, rising 0.37% over the course of the week. The Euro made ground against Sterling over the course of the week strengthening by 1.8%; the close saw one £ buying 1.12911.

Commodities Market Review

On the commodities market, the price for Brent crude ended higher, closing at $111.36 per barrel (for October delivery); a rise of 2.5% over the course of the week’s trading. The value of gold fell last week, closing at $1788 per ounce, representing a fall of 3.3% over last week’s value, the decline was attributed to profit taking and lower trading volume because of a rise in transaction costs.