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Investment Market Update

17 March 2017

World markets

FTSE 100 0.6% 7415.95
FTSE 250 0.3% 19027.02
Euro Stoxx 600 0.7% 377.73
S&P 500 -0.2% 2381.38
Nikkei -0.3% 19521.59
Hang Seng (HK$) 0.0% 24281.69

asia

Asian markets struggled Friday as caution prevailed following the previous day's rally, with investors concerned about a lack of detail on Donald Trump's tax reforms and spending promises in his first budget.

us

US stocks closed mostly lower, weighed by losses in the healthcare sector after US President Donald Trump released his budget blueprint that proposed cutting spending for the National Institutes of Health by $5.8 billion.

uk

UK stocks hit new record highs on Thursday as investors reacted to Wednesday's interest rate rise by the US Federal Reserve. Mining companies dominated the risers, with Anglo American topping the leaders' board with an 8% increase.


Headlines

  • UK interest rates should be raised, despite risks in the economy, according to a member of the Bank of England's rate-setting committee. Kristin Forbes, a US academic, was the only member of the Monetary Policy Committee to vote to raise rates this month. This was the first split between policymakers on rates since last July. "Monetary policy should not go on hold," Ms Forbes wrote in an opinion piece in the Daily Telegraph. Ms Forbes, who is due to leave the Bank in June, said raising rates would lessen the risk of above-target inflation, and boost an improved outlook for unemployment and UK output. Official data on Wednesday showed UK pay growth, adjusted for inflation, halved to just 0.7% - the lowest since October 2014.
     
  • Germany's finance minister Wolfgang Schaeuble has said it is in the EU's interest to have a strong financial centre in London. Speaking ahead of Friday's G20 meeting, Mr Schaeuble said he would want to negotiate a Brexit deal in which the City of London remains a global financial force. In a keynote address to the IIF Conference in Frankfurt, he said: "I am convinced that for Europe as a whole - and I'm not sure this will be very beloved in Paris - it's in our own interests to have strong financial centre in London."

Market data

Price1dYTD2016
UK (£)
FTSE 1007,415.950.6%3.8%14.4%
FTSE 25019,027.020.3%5.3%3.7%
FTSE All Share4,031.530.6%4.1%12.5%
FTSE Small Cap5,392.050.3%4.8%11.0%
St. James's Place1,080.00-0.3%6.5%3.9%
Europe (€)
Euro Stoxx 600377.730.7%4.5%-1.2%
DAX 3012,083.180.6%5.2%7.0%
CAC 405,013.380.6%3.1%4.9%
US (US$)
S&P 5002,381.38-0.2%6.4%9.5%
Dow Jones Ind20,934.55-0.1%5.9%13.4%
NASDAQ5,900.760.0%9.6%7.5%
Asia
Hang Seng24,281.690.0%10.4%0.4%
Nikkei 22519,521.59-0.3%2.1%1.8%
Australia 2005,799.650.2%2.4%7.0%
MSCI AC Asia Pacific148.071.6%9.6%2.3%
World (US$)
MSCI World (Developed)1,864.100.5%6.4%5.3%
MSCI AC World (Dev & Em)451.360.7%7.0%5.6%
MSCI Emerging Markets963.202.1%11.7%8.6%
MSCI AC World Value204.680.7%5.3%9.5%
MSCI AC World Growth234.600.7%8.8%1.8%
Fixed Income
FTSE Gilts All Stocks3,538.33-0.1%0.4%8.5%
FTSE Index Linked All Stocks635.70-0.4%-0.2%21.2%
ML Sterling Corporate Bonds385.57-0.1%1.1%10.7%
ML Global High Yield Bonds351.000.6%2.5%15.0%
Commodities (US$)
Brent Crude Oil51.74-0.1%-10.9%23.4%
Gold1,226.732.1%6.4%8.6%
UK Sectors
Basic Materials5,629.063.7%11.4%93.9%
Consumer Goods and Services21,930.100.1%11.4%9.6%
Financials5,004.750.4%4.7%8.6%
Health Care10,593.420.2%7.2%5.8%
Industrials4,031.530.6%4.1%15.4%
Oil & Gas7,923.910.9%-7.3%54.2%
Technology2,198.770.0%9.8%33.4%
Telecommunications3,366.351.2%-0.4%-14.7%
Utilities8,709.240.5%1.1%2.5%
Currencies
$ per £1.22-1.2%-1.1%-16.3%
€ per £1.15-0.2%-2.0%-15.7%
¥ per £140.200.2%-3.0%-22.7%
Indicators
VIX Index (Volatility)11.21-3.6%-20.2%-22.9%
Baltic Dry Index1,172.002.2%22.0%101.1%
UK Rates
BoE Base Rate0.25%
LIBOR (3 months)0.34%
Consumer Price Index1.80%
Retail Price Index2.60%
Yields / Ratios
FTSE 100 Adj P/E27.13
FTSE All Share Adj P/E24.91
FTSE All Share Yld3.87%
15yr Gilt Yield1.61%
10yr Gilt Yield1.25%
10yr US Tres Yield2.54%

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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