Investment Market Update
Asian stocks were mixed as investors sought fresh catalysts after last week’s run to record highs. Stocks in Tokyo deepened a decline going into the close of the session, with the Nikkei 225 Stock Average falling the most in six months. Hong Kong stocks were firmer after a reshuffle of the benchmark Hang Seng Index.
US stocks closed lower after US lawmakers released a tax proposal that would postpone corporate tax cuts until 2019.
UK stocks ended the week lower as retail shares continued to lose ground. Retail distribution group Bunzl was the biggest faller in the FTSE 100 index, down more than 6%, after Morgan Stanley flagged up the risk to the company from Amazon's business-to-business venture.
- The Labour Party accused Prime Minister Theresa May of lacking the support within her Conservative Party to deliver the Brexit transition period she’s proposed, and urged her to work instead with the opposition to pave the way for one.
- China is poised for an acceleration of deals as confidence grows in the wake of last month’s Communist Party gathering and as the nation opens up to reforms. Deal making activity will pick up now that the country’s 19th Party Congress is over, ending a wait-and-see period leading up to the event, said Carl Chien, JPMorgan Chase & Co. Look for increased activity in the tourism and airline sectors, he said.
|FTSE All Share||4,084.05||-0.6%||5.4%||12.5%|
|FTSE Small Cap||5,820.95||-0.1%||13.2%||11.0%|
|St. James's Place||1,146.00||0.0%||13.0%||3.9%|
|Euro Stoxx 600||388.69||-0.4%||7.5%||-1.2%|
|Dow Jones Ind||23,422.21||-0.2%||18.5%||13.4%|
|MSCI AC Asia Pacific||171.30||-0.3%||26.8%||2.3%|
|MSCI World (Developed)||2,040.25||-0.1%||16.5%||5.3%|
|MSCI AC World (Dev & Em)||497.86||-0.1%||18.0%||5.6%|
|MSCI Emerging Markets||1,128.49||-0.5%||30.9%||8.6%|
|MSCI AC World Value||216.99||-0.2%||11.6%||9.5%|
|MSCI AC World Growth||269.09||-0.1%||24.8%||1.8%|
|FTSE Gilts All Stocks||3,528.34||-0.7%||0.1%||8.5%|
|FTSE Index Linked All Stocks||638.73||-0.9%||0.3%||21.2%|
|ML Sterling Corporate Bonds||394.52||-0.6%||3.5%||10.7%|
|ML Global High Yield Bonds||373.15||0.0%||8.9%||15.0%|
|Brent Crude Oil||63.52||-0.6%||8.3%||23.4%|
|Consumer Goods and Services||21,804.65||-0.4%||10.8%||9.6%|
|Oil & Gas||8,832.76||-1.4%||3.3%||54.2%|
|$ per £||1.31||0.5%||4.7%||-16.3%|
|€ per £||1.13||-0.1%||-3.7%||-15.7%|
|¥ per £||148.80||-0.7%||3.0%||-22.7%|
|VIX Index (Volatility)||11.29||7.5%||-19.6%||-22.9%|
|Baltic Dry Index||1,464.00||-1.1%||52.3%||101.1%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.53%|
|Consumer Price Index||3.00%|
|Retail Price Index||3.90%|
|Yields / Ratios|
|FTSE 100 Adj P/E||20.11|
|FTSE All Share Adj P/E||19.70|
|FTSE All Share Yld||3.88%|
|15yr Gilt Yield||1.67%|
|10yr Gilt Yield||1.34%|
|10yr US Tres Yield||2.40%|
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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