Investment Market Update
Stocks in Asia traded mixed as investors assessed gains spurred by the passage of the US tax cuts in the Senate that lifted equities to fresh highs. In China, a private report on services indicated that the sector expanded more firmly last month than in October.
US stocks rose as they saw the blue chip Dow Jones and S&P 500 indexes hit record highs during trading, before easing back slightly. The driving force on Wall Street at the start of the week was the US Senate's approval of the biggest tax law change since the 1980s.
UK stocks finished 0.5% higher, rebounding from a two-month low. Analysts said that progress in US tax reforms had given stock markets a boost worldwide. Sky shares finished nearly 3% higher following reports that Rupert Murdoch's 21st Century Fox has re-opened talks with Walt Disney.
- Theresa May came closer than ever on Monday to the Brexit deal she’s been working on for months. A last-minute upset over the Irish border left an agreement still not in place.
- Train fares in Britain will go up by an average of 3.4% from 2 January, the rail industry has announced. The increase covers both regulated fares, which includes season tickets, and unregulated fares, such as off-peak leisure tickets.
|FTSE All Share||4,038.50||0.5%||4.3%||12.5%|
|FTSE Small Cap||5,764.62||0.0%||12.1%||11.0%|
|St. James's Place||1,200.00||0.3%||18.3%||3.9%|
|Euro Stoxx 600||387.47||0.9%||7.2%||-1.2%|
|Dow Jones Ind||24,290.05||0.2%||22.9%||13.4%|
|MSCI AC Asia Pacific||169.79||-0.1%||25.7%||2.3%|
|MSCI World (Developed)||2,069.99||0.0%||18.2%||5.3%|
|MSCI AC World (Dev & Em)||503.92||0.1%||19.5%||5.6%|
|MSCI Emerging Markets||1,121.95||0.5%||30.1%||8.6%|
|MSCI AC World Value||220.82||0.4%||13.6%||9.5%|
|MSCI AC World Growth||270.93||-0.2%||25.6%||1.8%|
|FTSE Gilts All Stocks||3,551.01||-0.6%||0.7%||8.5%|
|FTSE Index Linked All Stocks||638.22||-1.1%||0.2%||21.2%|
|ML Sterling Corporate Bonds||395.96||-0.3%||3.9%||10.7%|
|ML Global High Yield Bonds||376.05||0.1%||9.8%||15.0%|
|Brent Crude Oil||62.45||-2.0%||6.6%||23.4%|
|Consumer Goods and Services||21,446.06||0.4%||9.0%||9.6%|
|Oil & Gas||8,630.14||0.3%||1.0%||54.2%|
|$ per £||1.35||0.1%||9.2%||-16.3%|
|€ per £||1.13||-0.3%||-3.4%||-15.7%|
|¥ per £||151.08||-0.5%||4.6%||-22.7%|
|VIX Index (Volatility)||11.68||2.2%||-16.8%||-22.9%|
|Baltic Dry Index||1,662.00||2.2%||72.9%||101.1%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.52%|
|Consumer Price Index||3.00%|
|Retail Price Index||4.00%|
|Yields / Ratios|
|FTSE 100 Adj P/E||19.80|
|FTSE All Share Adj P/E||19.32|
|FTSE All Share Yld||3.79%|
|15yr Gilt Yield||1.60%|
|10yr Gilt Yield||1.29%|
|10yr US Tres Yield||2.37%|
Market prices will reflect the last closing prices with the exception of the Asian markets which may be still trading at the time the data is obtained. The data for these markets is therefore a snapshot of live trading data obtained between 06.45 and 07.15 GMT. Growth is shown cumulative and is not annualised. A positive currency movement indicates the £ appreciating against the other currency. Performance data does not account for the re-investment of dividends. This information has been reproduced by kind permission of Bloomberg and does not necessarily reflect the opinions of St. James's Place Wealth Management. St. James's Place considers the information to be reliable but it is not intended to provide a sufficient basis on which to make an investment decision.
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