Investment Market Update
Asian stocks traded lower amid ongoing concern global trade restrictions will curb growth. Oil prices rose as OPEC moved closer to a deal on output.
US stocks finished lower and the Dow Jones Industrial Average turned negative for the year as a quick escalation of tension between the US and China unnerved investors.
UK stocks closed lower as the pound extended gains triggered by the Bank of England's chief economist vote for an immediate rate hike. Shares in Dixons Carphone rose as results were better than expected given the changes made by new CEO Alex Baldock three weeks ago.
- Mark Carney said the Bank of England needs to adapt to the unprecedented changes in the global economy and the financial system as he unveiled another overhaul of the institution’s powers. Under a new framework the Treasury will pump £1.2 billion of capital into the BOE, which in turn will have the ability to take on greater risk if it needs to act to keep the banking system and the economy on an even keel.
- OPEC and its allies reached a preliminary agreement in the face of strong opposition from Iran to boost production by a theoretical 1 million barrels a day. The actual increase will be smaller as several countries are unable to raise output.
|FTSE All Share||4,164.99||-0.9%||-1.3%||9.0%|
|FTSE Small Cap||5,936.15||-0.6%||0.4%||14.9%|
|St. James's Place||1,168.00||-1.1%||-4.7%||20.9%|
|Euro Stoxx 600||380.85||-0.9%||-2.1%||7.7%|
|Dow Jones Ind||24,461.70||-0.8%||-1.0%||25.1%|
|MSCI AC Asia Pacific||169.02||-0.5%||-2.8%||28.7%|
|MSCI World (Developed)||2,105.93||-0.6%||0.1%||20.1%|
|MSCI AC World (Dev & Em)||509.34||-0.6%||-0.7%||21.6%|
|MSCI Emerging Markets||1,080.19||-1.2%||-6.8%||34.2%|
|MSCI AC World Value||212.75||-0.6%||-5.0%||15.2%|
|MSCI AC World Growth||286.64||-0.6%||3.6%||28.3%|
|FTSE Gilts All Stocks||3,601.13||0.2%||0.3%||3.0%|
|FTSE Index Linked All Stocks||639.94||0.3%||-1.2%||2.3%|
|ML Sterling Corporate Bonds||396.08||0.0%||-1.2%||5.7%|
|ML Global High Yield Bonds||373.32||0.0%||-1.1%||9.7%|
|Brent Crude Oil||73.05||-2.3%||12.2%||14.5%|
|Consumer Goods and Services||20,050.35||-0.3%||-10.3%||13.6%|
|Oil & Gas||9,448.67||-0.8%||4.3%||6.0%|
|$ per £||1.32||-0.4%||-2.3%||9.5%|
|€ per £||1.14||-0.2%||1.1%||-4.0%|
|¥ per £||145.42||-0.2%||-4.5%||5.3%|
|VIX Index (Volatility)||14.64||14.5%||32.6%||-21.4%|
|Baltic Dry Index||1,347.00||-1.9%||-1.4%||42.1%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.63%|
|Consumer Price Index||2.40%|
|Retail Price Index||3.30%|
|Yields / Ratios|
|FTSE 100 Adj P/E||13.00|
|FTSE All Share Adj P/E||12.98|
|FTSE All Share Yld||4.03%|
|15yr Gilt Yield||1.58%|
|10yr Gilt Yield||1.28%|
|10yr US Tres Yield||2.90%|
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 2018. "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.