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Investment Market Update

14 December 2017

World markets

FTSE 100 -0.1% 7496.51
FTSE 250 -0.1% 20061.40
Euro Stoxx 600 -0.2% 390.70
S&P 500 0.0% 2662.85
Nikkei -0.3% 22694.45
Hang Seng (HK$) -0.4% 29119.30

asia

Asian stocks fell after a surprise hike in short-term interest rates by China’s central bank. China’s domestic equity markets were lower and Hong Kong’s Hang Seng Index fell. Japanese equities dipped and South Korea’s gained. 

us

US stocks finished the day flat in the wake of the Fed keeping 2018 monetary tightening plans as is despite boosting its growth projection.

uk

UK stocks closed lower as news broke that average earnings are still lagging behind inflation. Shares in Tui the travel company, rose marginally, as investors were encouraged by a 12% rise in annual profits. Dixons Carphone was the biggest winner, with a 6.5% gain. Investors have looked at the company's latest results and clearly seen things they liked, even though they showed a 60% fall in pre-tax profits.


Headlines

  • Prime Minister Theresa May heads to a European summit that was set to be a celebration of the breakthrough victory in Brexit talks she clinched last week. Instead, she arrives hours after a serious defeat at the hands of her own party. Lawmakers voted 309 to 305 on Wednesday evening to change her government’s planned legislation so that it guarantees they will get a “meaningful vote” on the final deal to leave the European Union at the end of negotiations in 2019.
     
  • The Federal Reserve isn’t buying President Donald Trump’s argument that his tax cut package will lead to a significantly stronger, sustainable expansion of the economy. While the central bank would welcome such a development, outgoing Fed Chair Janet Yellen suggested on Wednesday that policy makers generally see the plan as having a modest and mostly short-term impact.

Market data

Price1dYTD2016
UK (£)
FTSE 1007,496.51-0.1%5.0%14.4%
FTSE 25020,061.40-0.1%11.0%3.7%
FTSE All Share4,111.96-0.1%6.2%12.5%
FTSE Small Cap5,770.980.0%12.2%11.0%
St. James's Place1,167.000.3%15.1%3.9%
Europe (€)
Euro Stoxx 600390.70-0.2%8.1%-1.2%
DAX 3013,125.64-0.4%14.3%7.0%
CAC 405,399.45-0.5%11.0%4.9%
US (US$)
S&P 5002,662.850.0%18.9%9.5%
Dow Jones Ind24,585.430.3%24.4%13.4%
NASDAQ6,875.800.2%27.7%7.5%
Asia
Hang Seng29,119.30-0.4%32.4%0.4%
Nikkei 22522,694.45-0.3%18.7%1.8%
Australia 2006,011.26-0.2%6.1%7.0%
MSCI AC Asia Pacific170.780.5%26.5%2.3%
World (US$)
MSCI World (Developed)2,084.370.0%19.0%5.3%
MSCI AC World (Dev & Em)506.840.1%20.2%5.6%
MSCI Emerging Markets1,118.810.6%29.8%8.6%
MSCI AC World Value221.420.1%13.9%9.5%
MSCI AC World Growth273.340.2%26.8%1.8%
Fixed Income
FTSE Gilts All Stocks3,575.570.1%1.4%8.5%
FTSE Index Linked All Stocks641.71-0.5%0.8%21.2%
ML Sterling Corporate Bonds398.680.1%4.6%10.7%
ML Global High Yield Bonds375.540.0%9.6%15.0%
Commodities (US$)
Brent Crude Oil62.44-1.4%6.5%23.4%
Gold1,245.830.5%8.0%8.6%
UK Sectors
Basic Materials5,753.200.6%13.9%93.9%
Consumer Goods and Services22,072.85-0.3%12.1%9.6%
Financials5,306.930.6%11.0%8.6%
Health Care9,252.12-0.5%-6.3%5.8%
Industrials4,111.96-0.1%6.2%15.4%
Oil & Gas8,776.65-0.9%2.7%54.2%
Technology1,866.63-0.6%-6.7%33.4%
Telecommunications3,317.93-0.7%-1.8%-14.7%
Utilities7,297.45-1.5%-15.3%2.5%
Currencies
$ per £1.33-0.3%7.9%-16.3%
€ per £1.140.1%-3.2%-15.7%
¥ per £151.290.2%4.7%-22.7%
Indicators
VIX Index (Volatility)10.182.6%-27.5%-22.9%
Baltic Dry Index1,730.00-0.7%80.0%101.1%
UK Rates
BoE Base Rate0.50%
LIBOR (3 months)0.52%
Consumer Price Index3.10%
Retail Price Index3.90%
Yields / Ratios
FTSE 100 Adj P/E20.16
FTSE All Share Adj P/E19.64
FTSE All Share Yld3.74%
15yr Gilt Yield1.54%
10yr Gilt Yield1.22%
10yr US Tres Yield2.34%

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.

Source: FTSE International Limited ("FTSE") © FTSE 2017. "FTSE®" is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. All rights in the FTSE indices and/or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and/or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE’s express written consent.

Source: MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

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