27 February Market Review
All of the major markets regained some of their ground last week with the price of oil gaining a little ground finally.
The FTSE closed at 6096 for a gain of 2.5% on the week and 4.2% for the month. The Dax was up a decent 1.3% for the week and 2.5% for the month, to end at 9513.3. The CAC closed the week at 4314.6 for a gain of 2.2% on the week and 2.7% for the month.
The Dow closed at 16640 for the week with a gain of 1.5% and 2.7% for the month respectively. The Nasdaq composite index closed the week at 4590.5 for a gain of 1.9% and a solid gain of 5.2% for the month.
The Nikkei 225 closed the week at 16188 for a weekly total of 2.2%, but couldn’t regain all the ground lost in the month and lost 3.8% in February.
The Dollar enjoyed the best week of all the major currencies last week. It gained versus the Sterling 3.3% on the week and 4.1% for the month to close at $1.3868. The Dollar also gained against the Euro by closing at $1.0931 with a gain of 1.8% for the week and 1.8% for the month. It also rose against the Yen with a gain of 1.2% for the week, but couldn’t stay positive for the month at a loss of 2.7%, for a close of 113.8.
The Euro struggled against the Yen all month with a loss of 0.6% for the week and 4.5% for the month, to close at 124.4. It did fair better versus the Sterling by closing at 1.2687 for a gain of 1.6% on the week and 2.4% for the month.
Euro lost 1% for the week and 1.5% for the month versus the CHF to close at 1.0895.
Brent crude had a nice weekly gain of 6.3% and because of this week, it closed out the month up 3% to end at $35.10 per barrel. Gold lost ground last week 0.61% but had a nice gain of 4.2% for the month to close at $1222.9 per ounce.