By: Dr. Mike Campbell
All of the world’s major stock markets closed lower, compared to how they stood last week. In Europe over the course of the week, the FTSE shed 1.1%, closing at 5275.4; the Dax fell by 2.4%, ending the week at 6110.4; the CAC dropped by 2.8% to end the session at 3610.9.
The Dow ended the week lower by 3.3%, finishing the trading session at 10303.2. The Nasdaq ended the week down by 5 %; closing at 2173.5.
The Nikkei closed down by 4% over the course of the week ending trading at 9253.5.
Currency Markets
On the currency markets last week the Euro had the worst of trading. The Dollar was stronger against Sterling by 1.8% closing at 1.5586 to the Pound. The Greenback was stronger against the Euro by 2.9%, to close at 1.2799. The Dollar was also down against the Japanese currency at 85.7723 to the Yen, a fall of 0.11% on the week.
The Euro fell back against the Yen closing at 109.78, losing 3%. The Euro weakened against Sterling over the course of the week by 1.1%. The close saw one £ buying 1.2177€.
Commodities Market
On the commodities market, the price for Brent crude was strongly lower, closing at $75.1 per barrel (for September delivery); a fall of 6.3% over the course of the week’s trading. The value of gold strengthened to 1213 per ounce, representing a gain of 1.6% over last week’s value.