By: Dr. Mike Campell
Last week was the final trading session of the month. It saw all of the world’s major stock markets close higher. In Europe over the course of the week, the FTSE gained 2%, closing at 5997.4, but it ended January down by 0.37%; the Dax put on 2.6% to close at 7216.2, ending the month up by 3.4%; the CAC rose by 1.1% to end the session at 4047.2, putting on 3.7% of the course of the month.
The Dow ended the week higher to the tune of 2.3%, finishing the trading session at 12092. It ended January up by 3.4%. The Nasdaq ended the week higher, gaining 3.1% to close at 2769.3 and ending the month higher by 2.2%.
The Nikkei closed higher by 1.8% over the course of the week to end the trading session at 10544, ending the month just 0.13% higher.
Currency Market Review
On the currency markets last week, the Pound Sterling enjoyed the best of the trading. The Dollar was down against Sterling, falling by 1.6%, closing at 1.60893 to the Pound. It shed 3.4% of its value in January. The Greenback was stronger against the Euro last week, rising by -0.16% to close at 1.35835, but it lost nearly 5% over the month. The Dollar was flat against the Japanese currency, closing at 82.03 to the Yen, a gain of 0.09%. In January, it lost 1.2% against the Yen.
The Euro closed down against the Yen ending at 111.425, falling 0.15% over the course of the week. It gained 3.6% over the course of January. The Euro lost ground against Sterling over the course of the week by 1.8%. The close saw one £ buying 1.1845, but it fell by 1.5% over the month.
Commodities Market Review
On the commodities market, the price for Brent crude was higher, closing at $99.8 per barrel (for March delivery); a rise of 0.41% over the course of the week’s trading. It put on 5.6% over the month. The value of gold recovered last week, closing at 1354 per ounce; representing a gain of 3.1% over last week’s value, but it still lost 1.8% in January.