By: Dr. Mike Campbell
Last week was a mixed affair for the world’s major stock markets. The FTSE and Nikkei closed down, but the others ended the week higher than they had started it. In Europe over the course of the week, the FTSE shed 0.29%, closing at 6002.1; the Dax rose by 1.4% to close at 7075.7; the CAC gained 2% to end the session at 3983.3.
The Dow ended the week higher to the tune of 0.77%, finishing the trading session at 11785. The Nasdaq ended the week higher, making 1.7% to close at 2755.3.
The Nikkei closed down by 0.29% over the course of the week to end the trading session at 10499.
On the currency markets last week, the Euro enjoyed the best of the trading as sovereign debt jitters eased. The Dollar was weaker against Sterling by 2%, closing at 1.5873 to the Pound. The Greenback was weaker against the Euro falling by 3%, to close at 1.3327. The Dollar also weakened marginally against the Japanese currency to close at 83.02 to the Yen, a slip of 0.05%.
The Euro closed up against the Yen ending at 110.64, making 3.1% over the course of the week. The Euro made ground against Sterling over the course of the week by 0.91%. The close saw one £ buying 1.1911.
On the commodities market, the price for Brent crude was higher, closing at $98.7 per barrel (for February delivery); a rise of 4.4% over the course of the week’s trading. The value of gold relaxed further last week, closing at 1373 per ounce; representing a fall of 0.4% over last week’s value.