By: Dr. Mike Campbell
It was another good week for the majority of the world’s major stock exchanges last week with all of them closing higher, except for the Dax. In Europe over the course of the week, the FTSE made 1.0%, closing at 5871.8; the Dax was the only major exchange to close lower and it lost 0.34%, ending the week at 6982.5; the CAC gained 0.26% to end the session at 3867.4.
The Dow ended the week higher to the tune of 0.72%, finishing the trading session at 11492. The Nasdaq ended the week higher, gaining 0.21% to close at 2643.
The Nikkei closed up by 0.9% over the course of the week, ending trading at 10212.
On the currency markets last week, the Dollar had the best of the trading. The Dollar was stronger against Sterling by 1.6% closing at 1.5557 to the Pound. The Greenback was marginally stronger against the Euro making 0.12%, to close at 1.3244. The Dollar was also strengthened against the Japanese currency at 83.9065 to the Yen, a gain of 0.29% on the week.
The Euro closed up against the Yen, just, ending at 111.26, gaining 0.42% over the course of the week. The Euro strengthened further Sterling over the course of the week by 1.7%. The close saw one £ buying 1.1739€.
On the commodities market, the price for Brent crude was higher, closing at $91.7 per barrel (for February delivery); a rise of 1.3% over the course of the week’s trading. The value of gold dipped, closing at 1370.9 per ounce; representing a fall of 0.63% over last week’s value.