By: Dr. Mike Campbell
With the exception of London, all the world’s major exchanges closed higher at the end of last week’s trading session.
In Europe over the course of the week, the FTSE fell by 0.23% and closed at 5636.6; the Dax ended the week at 6143.1, making 1.4% over the week; the CAC put on 1.9% to end the session at 3196.5.
The Dow ended the week higher to the tune of 0.5% at 12422.1 The Nasdaq composite index ended the week at 2710.7 climbing by 1.4% over the course of the week.
The Nikkei closed up over the course of the week’s trading, gaining 1.3% to end the trading session at 8500.
Currency Markets Review
On the currency markets last week, the Yen again saw the best of trading. The Dollar was stronger against Sterling, gaining 0.86% and closing at 1.53276 to the Pound. The Greenback strengthened against the Euro last week, just, making 0.04% to close at 1.2771. The Dollar lost ground against the Japanese currency closing at 76.7833 to the Yen, a fall of 0.47% on the week.
The Euro was down against the Yen ending at 98.06 falling 0.51% over the course of the week. The Euro was actually stronger against Sterling over the course of the week gaining 0.82%; the close saw one £ buying 1.20019.
Commodities Market Review
On the commodities market, the price for Brent crude ended lower, closing at $110.44 per barrel (for February delivery); a fall of 2.3% over the course of the week’s trading. The value of gold recovered further last week, closing at $1635.5 per ounce, representing a gain of 1.2% over last week’s value.