Investment Market Update
Most Asian stock markets were higher in overnight trading after the US Senate approved a fiscal 2018 budget plan, raising expectations that Congress may be able to pass a version of the Trump administration's tax cut proposals.
US stocks were flat on Thursday, pausing after their recent run of record highs, as technology shares dragged and some earnings disappointed.
UK stocks closed down as a weak third-quarter update from Unilever weighed, while mid- and small-cap trading was marred by profit warnings from IWG and Interserve which cut their market value by a third. Disappointing retail sales figures sent sterling to a one-week low before recovering, helping the internationally-exposed FTSE reduce earlier losses slightly.
- Retail sales suffered an unexpectedly sharp fall of 0.8% in September, reversing a jump in August, according to the Office for National Statistics. It meant that third-quarter retail growth slowed to a year-on-year rate of 1.5%, its lowest since the second quarter of 2013.
German Chancellor Angela Merkel offered Theresa May the political cover she’s been asking for to take further steps in Brexit talks, calling on both sides to move so that a deal can be reached by year-end. The UK prime minister signalled she’s willing to offer more on the divorce bill, according to a UK official. May urged leaders at a European summit to help her find a deal she could sell to sceptics at home, and her counterparts responded with words of encouragement, though no concrete concessions.
|FTSE All Share||4,127.21||-0.3%||6.6%||12.5%|
|FTSE Small Cap||5,819.25||-0.3%||13.1%||11.0%|
|St. James's Place||1,167.00||0.3%||19.0%||3.9%|
|Euro Stoxx 600||389.11||-0.6%||7.7%||-1.2%|
|Dow Jones Ind||23,163.04||0.0%||17.2%||13.4%|
|MSCI AC Asia Pacific||167.02||-0.2%||23.7%||2.3%|
|MSCI World (Developed)||2,033.29||0.1%||16.1%||5.3%|
|MSCI AC World (Dev & Em)||495.76||0.0%||17.5%||5.6%|
|MSCI Emerging Markets||1,116.91||-0.9%||29.5%||8.6%|
|MSCI AC World Value||218.23||0.2%||12.3%||9.5%|
|MSCI AC World Growth||265.42||-0.1%||23.1%||1.8%|
|FTSE Gilts All Stocks||3,550.42||0.4%||0.7%||8.5%|
|FTSE Index Linked All Stocks||640.06||0.2%||0.5%||21.2%|
|ML Sterling Corporate Bonds||395.97||0.2%||3.9%||10.7%|
|ML Global High Yield Bonds||376.58||0.1%||9.9%||15.0%|
|Brent Crude Oil||57.23||-1.6%||-2.6%||23.4%|
|Consumer Goods and Services||22,050.70||-1.2%||12.0%||9.6%|
|Oil & Gas||8,479.20||0.6%||-0.8%||54.2%|
|$ per £||1.32||0.2%||6.9%||-16.3%|
|€ per £||1.12||0.6%||-4.6%||-15.7%|
|¥ per £||148.89||0.5%||3.0%||-22.7%|
|VIX Index (Volatility)||10.05||-0.2%||-28.4%||-22.9%|
|Baltic Dry Index||1,582.00||1.0%||64.6%||101.1%|
|BoE Base Rate||0.25%|
|LIBOR (3 months)||0.38%|
|Consumer Price Index||3.00%|
|Retail Price Index||3.90%|
|Yields / Ratios|
|FTSE 100 Adj P/E||22.34|
|FTSE All Share Adj P/E||21.58|
|FTSE All Share Yld||3.78%|
|15yr Gilt Yield||1.61%|
|10yr Gilt Yield||1.28%|
|10yr US Tres Yield||2.32%|
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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