2 July 2016 Market Review
With the reverberations from Brexit continuing to come through the pipeline, the markets acted as though the first reaction was an over-reaction. Time will only tell if that is correct or not.
The FTSE closed at 6577.8 to be up 7.2% for the week. The Dax was up 2.3% for the week by ending at 9776.1. The CAC closed the week at 4274 to be up 4.1%.
The Dow closed the week at 17949 to be up 3.2%. The Nasdaq Composite Index closed the week at 4862.5, to be up 3.3%.
The Nikkei 225 ended the week at 15682 to be up 4.9%.
The Euro enjoyed the best week of trading among the major currencies. The Dollar gained against the Sterling 3% for the week by closing at $1.3279. The Dollar lost ground slightly against the Euro with a close of $1.1139 to be down 0.19%. The Dollar gained against the Yen 0.37% for the week by ending up at 102.6.
The Euro rose versus the Yen 0.55% for the week by closing at 114.3. The Euro rose against the Sterling 3.1% by closing at 1.1921. The Euro gained on the CHF slightly 0.11% for the week by ending at 1.0840.
Brent crude rose 4% this week to end at $50.35 per barrel. Gold had a decent week by closing at $1344 per ounce to be up 2.1%.