By: Dr. Mike Campbell
Last week was saw all of the world’s major markets close. In Europe over the course of the week, the FTSE made 3% and closed at 5368.4; the Dax put on 7.4% to close at 5573.5; the CAC strengthened by 1.9% to end the session at 3031.1.
The Dow ended the week at 11509.1 making 4.7% over the course of the week. The Nasdaq ended the week higher by 6.3%, to close at 2622.3.
The Nikkei strengthened over the course of the week, gaining 1.5% to end the trading session at 8864.2.
Currency Markets Review
On the currency markets last week, the Yen had the best of the trading; no doubt much to the chagrin of the Japanese. The Dollar was stronger against Sterling, making 1.1% and closing at 1.57582to the Pound. The Greenback made ground against the Euro last week, climbing 0.41% to close at 1.376. The Dollar lost ground against the Japanese currency, closing at 76.7442 to the Yen, a fall of 1.3% on the week.
The Euro closed down against the Yen ending at 105.6, falling 1.8% over the course of the week. The Euro also made ground against Sterling over the course of the week strengthening by 0.67%; the close saw one £ buying 1.14718.
Commodities Market Review
On the commodities market, the price for Brent crude ended lower, closing at $112.22 per barrel (for November delivery); a fall of 0.49% over the course of the week’s trading. The value of gold fell last week, closing at $1794 per ounce, representing a fall of 4% over last week’s value.