In the UK, the FTSE 100 managed to gain almost 1.5% for the week, following stronger oil stocks. Poor earnings news hit the TechMARK, leaving it over 2.5% lower for the week. Telecom and technology stocks seemed to be showing their volatility this week.
The news was the same for the rest of Europe, with Nokia and Ericsson both in the news and influencing the markets. However, a great week for Paris with an overall gain of 8%.
It was a short week in the US with markets being closed on Monday for Martin Luther King day. However, for three out of four trading days the Dow Jones managed a gain. The Federal reserve issued more positive news about the economy firming up and left little doubt that interest rates would not be cut for a 12th time.
The week in Asia saw Tokyo down for 3 days in a row. Uncertainty from the US took its toll but, by Friday, news from the US Federal Reserve seemed to boost markets everywhere.
Due to the weakness of the Yen, export stocks have been in favour and the markets generally seemed to end on a high for the week. Makes a welcome change.