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Investment Market Update

21 December 2017

World markets

FTSE 100 -0.3% 7525.22
FTSE 250 0.0% 20350.29
Euro Stoxx 600 -0.7% 388.37
S&P 500 -0.1% 2679.25
Nikkei -0.1% 22866.10
Hang Seng (HK$) 0.6% 29417.61


Stocks in Asia were mixed after US equities dipped in the wake of congressional passage of US tax cuts, suggesting investors see the growth-boost narrative from the corporate and individual rate reductions as having played out.


US equity markets fell in lighter-than-usual trading as lawmakers moved a step closer to slashing corporate tax rates in the world’s largest economy.


UK stocks fell with pessimism over Brexit showing no sign of letting up and sterling’s recovery threatening exporter profit.


  • The Bank of Japan left policy settings unchanged in the final meeting of 2017, retaining its unprecedented monetary stimulus as it waits for a pickup in stubbornly low inflation. The central bank will continue to target interest rates and buy financial assets to achieve its 2% inflation goal.
  • The US has ruled that Canada's Bombardier received government subsidies and sold C-Series jets below cost in the US, a step likely to lead to steep tariffs. The US Commerce Department investigated the aerospace firm's US sales after a petition from rival American company Boeing.

Market data

UK (£)
FTSE 1007,525.22-0.3%5.4%14.4%
FTSE 25020,350.290.0%12.6%3.7%
FTSE All Share4,135.16-0.2%6.8%12.5%
FTSE Small Cap5,807.19-0.1%12.9%11.0%
St. James's Place1,191.00-0.8%17.5%3.9%
Europe (€)
Euro Stoxx 600388.37-0.7%7.5%-1.2%
DAX 3013,069.17-1.1%13.8%7.0%
CAC 405,352.77-0.6%10.1%4.9%
US (US$)
S&P 5002,679.25-0.1%19.7%9.5%
Dow Jones Ind24,726.65-0.1%25.1%13.4%
Hang Seng29,417.610.6%33.7%0.4%
Nikkei 22522,866.10-0.1%19.6%1.8%
Australia 2006,060.36-0.3%7.0%7.0%
MSCI AC Asia Pacific171.610.0%27.1%2.3%
World (US$)
MSCI World (Developed)2,095.450.0%19.7%5.3%
MSCI AC World (Dev & Em)509.960.0%20.9%5.6%
MSCI Emerging Markets1,132.850.1%31.4%8.6%
MSCI AC World Value222.460.0%14.4%9.5%
MSCI AC World Growth275.41-0.1%27.7%1.8%
Fixed Income
FTSE Gilts All Stocks3,558.02-0.6%0.9%8.5%
FTSE Index Linked All Stocks637.88-0.5%0.2%21.2%
ML Sterling Corporate Bonds398.03-0.5%4.4%10.7%
ML Global High Yield Bonds375.900.1%9.7%15.0%
Commodities (US$)
Brent Crude Oil64.561.2%10.2%23.4%
UK Sectors
Basic Materials6,012.821.3%19.0%93.9%
Consumer Goods and Services21,941.60-0.9%11.5%9.6%
Health Care9,275.01-0.5%-6.1%5.8%
Oil & Gas8,799.41-0.1%2.9%54.2%
$ per £1.34-0.2%8.3%-16.3%
€ per £1.130.2%-3.6%-15.7%
¥ per £151.15-0.4%4.6%-22.7%
VIX Index (Volatility)9.72-3.1%-30.8%-22.9%
Baltic Dry Index1,476.00-4.6%53.6%101.1%
UK Rates
BoE Base Rate0.50%
LIBOR (3 months)0.51%
Consumer Price Index3.10%
Retail Price Index3.90%
Yields / Ratios
FTSE 100 Adj P/E20.40
FTSE All Share Adj P/E19.80
FTSE All Share Yld3.72%
15yr Gilt Yield1.57%
10yr Gilt Yield1.25%
10yr US Tres Yield2.50%

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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