Brexit continues to dominate the news. Johnson was forced to request the EU for an extension to the UK’s A50 notice, but did so with such bad grace that he may find himself in contempt of court. Sterling gained on the prospect of a negotiated exit from the EU.
In Europe over the course of the week, the FTSE was down on last week’s close by 1.3% at 7150.6; the Dax ended at 12633, up by 0.97% on last week’s close; the CAC was down by 0.52% to end the session at 5636.3.
The Dow ended the week down by 0.18% to close at 26770. The Nasdaq composite index was up by 0.4% over the course of the week at 8089.5.
The Nikkei 225 ended the week’s trading up by 3.2% to end the session at 22492.
On the currency markets last week, Sterling again enjoyed the best of the trading on continued hopes of a Brexit deal. The Dollar was weaker against Sterling last week closing at $1.2896 to the Pound, a loss of 1.7% on the week. The Greenback was weaker against the Euro last week falling by 1% to close at $1.1157 to the Euro.
The Dollar weakened marginally against the Japanese currency closing at 108.4 Yen to the Dollar, making a loss of 0.07% on the week.
The Euro was stronger against the Yen ending at 121, a gain of 0.97% over the course of the week. It was weaker against Sterling last week, the close saw one £ buying €1.1559, a loss of 0.64% on the week.
The Euro now buys 1.0994 CHF, a loss of 0.1% on the week.
On the commodities market, the price for Brent crude ended at $59.25 per barrel, a fall of 2.1% over the course of the week’s trading. The value of gold was higher last week closing at $1487.7 per ounce, a rise of 0.38% over the week.
