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%.