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Investment Market Update

25 January 2019

World markets

FTSE 100 -0.3% 6818.95
FTSE 250 0.2% 18627.63
Euro Stoxx 600 0.2% 355.67
S&P 500 0.1% 2642.33
Nikkei 1.0% 20786.80
Hang Seng (HK$) 1.3% 27486.32

asia

Asian stocks rose across the board on Friday, buoyed by gains in US technology shares, while investors awaited several key events next week, including US-China trade talks.

us

US stocks finished slightly higher yesterday, aided by good results from semiconductor makers and airlines. But Commerce Secretary Wilbur Ross downplayed the prospect of quick progress in US-China trade talks next week saying the parties were “miles and miles” from a resolution, although a lot of preparatory work had been done.

uk

UK stocks closed lower on Thursday, as markets digested news from the European Central Bank and comments made by US commerce secretary Wilbur Ross.


Headlines

  • The new chief executive of Goldman Sachs says that a "difficult" Brexit will negatively affect its investment plans in the UK. David Solomon told the BBC that while there has been a hiring freeze in the UK, the bank has been adding staff in the EU over the last two years. The outcome of Brexit would affect decisions about Goldman's people and resources, he said. The Wall Street giant currently employs 6,000 people in the UK.
     
  • On Thursday European Central Bank (ECB) president Mario Draghi described an outlook that is becoming more overcast. Economic data, he said, had been weaker than expected, and the risks to growth have increased. There was a clear hint in his remarks that it will take even longer than the ECB has been suggesting before it starts to raise interest rates. Mr Draghi referred to some international factors undermining the outlook: the slowdown in China and the declining stimulus from President Trump's tax cuts in the US.

Market data

Price1dYTD2018
UK (£)
FTSE 1006,818.95-0.3%1.3%-12.5%
FTSE 25018,627.630.2%6.4%-15.6%
FTSE All Share3,755.05-0.3%2.2%-13.0%
FTSE Small Cap5,314.04-0.5%2.6%-12.4%
St. James's Place962.002.2%1.9%-23.0%
Europe (€)
Euro Stoxx 600355.670.2%5.3%-13.2%
DAX 3011,130.180.5%5.4%-18.3%
CAC 404,871.960.7%3.0%-11.0%
US (US$)
S&P 5002,642.330.1%5.4%-6.2%
Dow Jones Ind24,553.24-0.1%5.3%-5.6%
NASDAQ7,073.460.7%6.6%-3.9%
Asia
Hang Seng27,486.321.3%6.3%-13.6%
Nikkei 22520,786.801.0%3.9%-12.1%
Australia 2005,905.600.7%4.6%-6.9%
MSCI AC Asia Pacific152.920.5%4.2%-15.6%
World (US$)
MSCI World (Developed)1,983.230.2%5.3%-10.4%
MSCI AC World (Dev & Em)479.840.2%5.3%-11.2%
MSCI Emerging Markets1,019.440.8%5.6%-16.6%
MSCI AC World Value204.650.1%5.3%-13.2%
MSCI AC World Growth264.670.3%5.3%-9.2%
Fixed Income
FTSE Gilts All Stocks3,633.340.6%0.7%0.8%
FTSE Index Linked All Stocks642.560.6%0.0%-1.2%
ML Sterling Corporate Bonds396.460.4%1.2%-2.4%
ML Global High Yield Bonds375.930.0%3.0%-3.7%
Commodities (US$)
Brent Crude Oil61.09-0.1%13.6%-14.9%
Gold1,280.39-0.3%-0.1%-2.6%
UK Sectors
Basic Materials5,836.350.1%1.0%-9.2%
Consumer Goods and Services17,488.62-1.1%0.2%-21.0%
Financials4,681.470.1%3.9%-16.4%
Health Care10,018.27-1.2%-3.8%8.8%
Industrials3,755.05-0.3%2.2%-12.8%
Oil & Gas8,453.740.4%-0.1%-7.4%
Technology1,844.21-0.7%5.6%-24.2%
Telecommunications2,331.05-2.4%-3.9%-27.9%
Utilities6,809.280.4%5.5%-10.5%
Currencies
$ per £1.310.4%2.5%-6.2%
€ per £1.15-0.4%3.0%-1.3%
¥ per £143.030.2%2.3%-19.7%
Indicators
VIX Index (Volatility)18.89-3.2%-25.7%160.2%
Baltic Dry Index939.00-4.4%-26.1%3.3%
UK Rates
BoE Base Rate0.75%
LIBOR (3 months)0.92%
Consumer Price Index2.10%
Retail Price Index2.70%
Yields / Ratios
FTSE 100 Adj P/E11.37
FTSE All Share Adj P/E11.61
FTSE All Share Yld4.77%
15yr Gilt Yield1.46%
10yr Gilt Yield1.27%
10yr US Tres Yield2.72%

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 2019. "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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