Investment Market Update
Asian stocks rallied after their US counterparts gained amid relief. The latest reading on American inflation suggested less need for the Federal Reserve to accelerate monetary tightening.
US stocks rose Thursday and market volatility continued to fade, as fears of runaway inflation abated to help send the Dow Jones Industrial Average higher for a sixth consecutive session.
UK stocks closed higher as the UK premier index was given a boost by weaker sterling. The pound lost ground after the latest Bank ot England meeting, where interest rates were kept on hold.
- The Bank of England said the UK economy has hit a "temporary soft patch" as it kept interest rates on hold at 0.5%. The Bank cut its growth forecast for the year to 1.4%, down from the forecast of 1.8% made in February. The Bank says that the cut is almost entirely due to the disruption to the economy caused by bad weather in March.
- At least 73 supermarkets will have to be sold in order for Sainsbury's proposed merger with Asda to be given the go-ahead, according to new research. And it's in the south-east and the north-west of England where stores are most under threat. The new supermarket group would become the largest in the UK by market share.
|FTSE All Share||4,228.42||0.40%||0.20%||9.00%|
|FTSE Small Cap||5,965.74||0.20%||0.90%||14.90%|
|St. James's Place||1,179.00||0.30%||-3.80%||20.90%|
|Euro Stoxx 600||391.97||-0.10%||0.70%||7.70%|
|Dow Jones Ind||24,739.53||0.80%||0.10%||25.10%|
|MSCI AC Asia Pacific||174.03||0.60%||0.10%||28.70%|
|MSCI World (Developed)||2,123.53||0.60%||1.00%||20.10%|
|MSCI AC World (Dev & Em)||517.233||0.70%||0.80%||21.60%|
|MSCI Emerging Markets||1,156.55||1.10%||-0.20%||34.20%|
|MSCI AC World Value||220.046||0.70%||-1.80%||15.20%|
|MSCI AC World Growth||286.121||0.70%||3.40%||28.30%|
|FTSE Gilts All Stocks||3,555.35||0.30%||-0.90%||3.00%|
|FTSE Index Linked All Stocks||629.19||0.80%||-2.90%||2.30%|
|ML Sterling Corporate Bonds||394.268||0.30%||-1.60%||5.70%|
|ML Global High Yield Bonds||374.932||0.10%||-0.70%||9.70%|
|Brent Crude Oil||77.47||0.30%||18.30%||14.50%|
|Consumer Goods and Services||20,123.84||0.30%||-10.00%||13.60%|
|Oil & Gas||9,712.83||-0.80%||7.20%||6.00%|
|$ per £||1.3557||0.40%||0.30%||9.50%|
|€ per £||1.1436||0.90%||1.60%||-4.00%|
|¥ per £||148.664||0.60%||-2.30%||5.30%|
|VIX Index (Volatility)||13.23||-1.40%||19.80%||-21.40%|
|Baltic Dry Index||1,453.00||-0.80%||6.40%||42.14%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.68%|
|Consumer Price Index||2.50%|
|Retail Price Index||3.30%|
|Yields / Ratios|
|FTSE 100 Adj P/E||13.24%|
|FTSE All Share Adj P/E||13.64%|
|FTSE All Share Yld||3.94%|
|15yr Gilt Yield||1.71%|
|10yr Gilt Yield||1.43%|
|10yr US Tres Yield||2.96%|
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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