Investment Market Update
Asian stocks outside of Japan extended gains for a third day as traders looked past the high possibility of a near-term US interest-rate increase and still see room for growth in stocks in the region. Japan was closed for a holiday.
US stocks ended the session little changed as financials and real estate firms slid, offsetting a rally in telecom companies. Pre-holiday volume was 20% below the 2017 and the slowest since Columbus Day Oct. 9.
UK stocks rose, despite shares in housebuilders falling after the chancellor announced in his Budget a review of unused planning permissions. Barratt Developments was the biggest faller in the FTSE 100, down 3.7%, while Berkeley Group dropped 2.6%.
- Conservative MPs have rallied round Philip Hammond despite his Budget being overshadowed by assessments of the UK's future growth prospects. The UK economy is forecast to expand by an average of just 1.4% a year by 2022 due to uncertainty over Brexit and sluggish productivity levels.
- Stamp duty will be abolished immediately for first-time buyers buying a home of up to £300,000, Chancellor Philip Hammond has said. For properties costing up to £500,000, no stamp duty will be paid on the first £300,000.
|FTSE All Share||4,070.45||0.3%||5.1%||12.5%|
|FTSE Small Cap||5,762.28||0.2%||12.0%||11.0%|
|St. James's Place||1,150.00||-0.7%||13.4%||3.9%|
|Euro Stoxx 600||388.10||0.4%||7.4%||-1.2%|
|Dow Jones Ind||23,590.83||0.7%||19.4%||13.4%|
|MSCI AC Asia Pacific||171.59||0.9%||27.1%||2.3%|
|MSCI World (Developed)||2,047.15||0.6%||16.9%||5.3%|
|MSCI AC World (Dev & Em)||500.51||0.6%||18.6%||5.6%|
|MSCI Emerging Markets||1,150.98||1.3%||33.5%||8.6%|
|MSCI AC World Value||216.61||0.4%||11.4%||9.5%|
|MSCI AC World Growth||272.34||0.9%||26.3%||1.8%|
|FTSE Gilts All Stocks||3,560.79||0.2%||1.0%||8.5%|
|FTSE Index Linked All Stocks||648.02||0.2%||1.8%||21.2%|
|ML Sterling Corporate Bonds||395.88||0.2%||3.8%||10.7%|
|ML Global High Yield Bonds||374.16||0.1%||9.2%||15.0%|
|Brent Crude Oil||62.57||0.6%||6.6%||23.4%|
|Consumer Goods and Services||22,028.79||1.0%||11.9%||9.6%|
|Oil & Gas||8,544.25||0.1%||0.0%||54.2%|
|$ per £||1.32||0.0%||7.2%||-16.3%|
|€ per £||1.13||-0.1%||-4.0%||-15.7%|
|¥ per £||148.99||0.1%||3.1%||-22.7%|
|VIX Index (Volatility)||9.73||-8.6%||-30.7%||-22.9%|
|Baltic Dry Index||1,396.00||0.8%||45.3%||101.1%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.53%|
|Consumer Price Index||3.00%|
|Retail Price Index||4.00%|
|Yields / Ratios|
|FTSE 100 Adj P/E||19.86|
|FTSE All Share Adj P/E||19.44|
|FTSE All Share Yld||3.89%|
|15yr Gilt Yield||1.58%|
|10yr Gilt Yield||1.27%|
|10yr US Tres Yield||2.36%|
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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