Investment Market Update
Asian stocks were mostly lower Thursday, as the region nervously watched for market-moving news from the first meeting between the US and Chinese leaders.
All three key Wall Street indices closed lower on Wednesday, following the release of the minutes of the Federal Reserve's latest meeting. The minutes signalled that most of the policymakers wanted to start reducing reinvestment in Treasury bills and mortgage-backed securities later this year, earlier than expected.
The FTSE 100 closed slightly higher after data showed better-than-expected growth in Britain's service sector. Miners were the biggest risers for much of the session, gaining on the back of higher oil and metals prices.
- Activity in the UK's dominant services sector rose at a faster-than-expected pace in March. The services sector, which accounts for three-quarters of the UK economy, said business activity and new work grew at the strongest rate so far this year. However, cost pressures led to the fastest rise in prices since late 2008.
- The Co-op Group has reported its first annual loss since 2013 after declaring that its stake in Co-operative Bank is worth nothing. Co-op Group reported a pre-tax loss of £132m for 2016, a sharp deterioration on the previous year's profit of £23m. It reduced the value of its 20% stake in Co-operative Bank from $185m to zero, reflecting the bank's continuing problems.
|FTSE All Share||3,996.54||0.2%||3.2%||12.5%|
|FTSE Small Cap||5,407.09||0.2%||5.1%||11.0%|
|St. James's Place||1,032.33||-1.1%||3.8%||3.9%|
|Euro Stoxx 600||380.09||0.0%||5.2%||-1.2%|
|Dow Jones Ind||20,648.15||-0.2%||4.5%||13.4%|
|MSCI AC Asia Pacific||147.43||0.2%||9.2%||2.3%|
|MSCI World (Developed)||1,845.95||-0.2%||5.4%||5.3%|
|MSCI AC World (Dev & Em)||447.76||-0.1%||6.1%||5.6%|
|MSCI Emerging Markets||969.22||0.4%||12.4%||8.6%|
|MSCI AC World Value||201.72||-0.2%||3.8%||9.5%|
|MSCI AC World Growth||234.29||-0.1%||8.7%||1.8%|
|FTSE Gilts All Stocks||3,589.11||-0.4%||1.8%||8.5%|
|FTSE Index Linked All Stocks||661.31||-0.1%||3.9%||21.2%|
|ML Sterling Corporate Bonds||389.49||-0.3%||2.2%||10.7%|
|ML Global High Yield Bonds||353.54||0.2%||3.2%||15.0%|
|Brent Crude Oil||54.36||0.4%||-7.0%||23.4%|
|Consumer Goods and Services||21,962.54||0.2%||11.6%||9.6%|
|Oil & Gas||7,934.64||0.5%||-7.2%||54.2%|
|$ per £||1.24||-0.5%||0.5%||-16.3%|
|€ per £||1.15||-2.0%||-2.2%||-15.7%|
|¥ per £||137.86||-0.7%||-4.6%||-22.7%|
|VIX Index (Volatility)||12.89||9.3%||-8.2%||-22.9%|
|Baltic Dry Index||1,223.00||-2.5%||27.3%||101.1%|
|BoE Base Rate||0.25%|
|LIBOR (3 months)||0.34%|
|Consumer Price Index||2.30%|
|Retail Price Index||3.20%|
|Yields / Ratios|
|FTSE 100 Adj P/E||26.73|
|FTSE All Share Adj P/E||24.80|
|FTSE All Share Yld||3.90%|
|15yr Gilt Yield||1.46%|
|10yr Gilt Yield||1.09%|
|10yr US Tres Yield||2.34%|
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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