All of the major stock markets ended the week higher, spurred on by clarification from the US Federal Reserve that the asset purchase programme is to continue for the foreseeable future.
In Europe over the course of the week, the FTSE was up by 2.8%, it closed at 6554.9; the Dax ended at 8212.8 recovering by 5.2% over the course of the week; the CAC was up by 2.7% to end the session at 3855.1.
The Dow ended the week higher making 2.2% to end at 15464. The Nasdaq composite index ended at 3600.1, gaining 3.5% over the course of the week.
The Nikkei 225 ended the week’s trading up by 2.8% to end the session at 14506.
Currency Markets in Review
On the currency markets last week, the Euro saw the best of trading. The Dollar was weaker against Sterling last week, closing at 1.5103 to the Pound; a fall of 1.3% over the week. The Greenback weakened against the Euro last week falling by 1.7% to close at 1.3045. The Dollar was also weaker against the Japanese currency, closing at 99.44 to the Yen, making a loss of 1.5% during the week.
The Euro strengthened against the Yen ending at 129.7, a gain of 0.16% over the course of the week. It also made ground against Sterling last week rising by 0.36%; the close saw one £ buying €1.1578.
Commondities Market Review
On the commodities market, the price for Brent crude ended higher, at $108.8 per barrel (for August delivery); a rise of 1% over the course of the week’s trading on continuing fears of unrest in Egypt. The value of gold was higher last week, closing at $1279.8 per ounce, representing a gain of 5.5% over previous week’s value.
The data that supports this article is drawn from Bloomberg, The Financial Times and X-rates.