By: Dr. Mike Campbell
Last week was marked the final full trading session for February and again, all of the major markets ended it higher.
In Europe over the course of the week, the FTSE made 0.51% and closed at 5935.1 representing a gain of 0.58 over the month; the Dax ended the week at 6864.4, making 0.24% over the week and rising 1.4% in February; the CAC also climbed, gaining 0.8% to end the session at 3467, climbing by 1.1% over the month.
The Dow ended the week higher to the tune of 0.26% at 12983, making 0.94 in February. The Nasdaq composite index ended the week at 2963.8, making 0.41% over the week and gaining 2% over the month
The Nikkei closed up over the course of the week’s trading, making 3.9% to end the trading session at 9647.4 and ending an impressive February up by 9.2%.
Currency Market Review
On the currency markets last week, the Euro saw the best of trading. The Dollar was stronger against Sterling, making 0.13% and closing at 1.58133 to the Pound – just where it started the month. The Greenback weakened against the Euro last week, falling 1.9% to close at 1.3412 – it ended the month down by this amount. The Dollar made further ground against the Japanese currency, closing at 80.5174 to the Yen, a gain of 1.5% on the week and a recovery of 5.6% of its value over the month.
The Euro rose against the Yen ending at 107.99 climbing 3.5% over the course of the week and by 7.7% in February. The Euro was stronger against Sterling over the course of the week, gaining 2%; the close saw one £ buying 1.17904; it strengthened by 1.9% over the month.
Commodities Market Review
On the commodities market, the price for Brent crude ended higher, closing at $125.5 per barrel (for April delivery); a gain of 4.9% over the course of the week’s trading and rising by 9.5% over the course of February. The value of gold climbed last week, closing at $1777.5 per ounce, representing a gain of 3.2% over last week’s value and a rise of 2.5% over the month.