By: Dr. Mike Campbell
Last week was saw most of the world’s major stock markets close lower. Only the Nikkei and Dax managed to close up. In Europe over the course of the week, the FTSE shed 0.25%, closing at 5881.4; the Dax put on 0.57% to close at 7102.8; the CAC fell by 0.38% to end the session at 4002.3.
The Dow ended the week lower to the tune of 0.41%, finishing the trading session at 11824. The Nasdaq ended the week lower, shedding 0.1% to close at 2686.9.
The Nikkei closed higher by 0.84% over the course of the week to end the trading session at 10360.
Week in Review
On the currency markets last week, the Yen enjoyed the best of the trading. The Dollar was stronger against Sterling, rising by 1%, closing at 1.58368 to the Pound. The Greenback was weaker against the Euro falling by 0.19%, to close at 1.36056. The Dollar also weakened against the Japanese currency to close at 82.02 to the Yen, a slip of 0.78%.
The Euro closed down against the Yen ending at 111596, falling 0.6% over the course of the week. The Euro made ground against Sterling over the course of the week by 1.2%. The close saw one £ buying 1.1640.
On the commodities market, the price for Brent crude was higher, closing at $99.4 per barrel (for March delivery); a rise of 1.9% over the course of the week’s trading. The value of gold relaxed further last week, closing at 1312 per ounce; representing a fall of 2.5% over last week’s value.