Investment Market Update
Asian stocks were mixed, with gauges in Japan rising, and Australian bonds fell as investors await comments from central bankers meeting at Jackson Hole and as political wrangling continues in Washington.
US stocks were fairly quiet as the results season wraps up and investors await any news from central bankers at an annual conference in Wyoming. Investors sold food and grocery stocks, including Walmart, Target and Costco, after Amazon said it would complete its takeover of Whole Foods.
UK stocks closed mixed. Provident Financial the troubled doorstep lender gained a further 13% following Wednesday's rise of 12%. The company issued a profit warning on Tuesday impacting its share price.
- The UK spent the summer publishing an avalanche of documents on Brexit but stayed silent on the one topic most likely to derail a deal: how much money it will pay the European Union. The UK made concessions to the EU in some of its position papers, yet sterling still fell on Wednesday to its weakest level against the euro since October. Ignore that month’s so-called flash crash and the pound was at its lowest in eight years.
- UK Household spending saw its lowest rise in two-and-a-half years, partly due to a slowdown in car sales, according to official data. In the three months to June, spending grew by 0.1%, the slowest since the end of 2014, the Office for National Statistics (ONS) said. It came as the ONS confirmed economic growth was 0.3% in the second quarter.
|FTSE All Share||4,058.44||0.2%||4.8%||12.5%|
|FTSE Small Cap||5,674.45||-0.1%||10.3%||11.0%|
|St. James's Place||1,179.00||0.1%||18.6%||3.9%|
|Euro Stoxx 600||374.51||0.2%||3.6%||-1.2%|
|Dow Jones Ind||21,783.40||-0.1%||10.2%||13.4%|
|MSCI AC Asia Pacific||159.98||-0.1%||18.5%||2.3%|
|MSCI World (Developed)||1,939.65||-0.1%||10.8%||5.3%|
|MSCI AC World (Dev & Em)||473.81||0.0%||12.3%||5.6%|
|MSCI Emerging Markets||1,082.45||0.6%||25.5%||8.6%|
|MSCI AC World Value||208.71||0.0%||7.4%||9.5%|
|MSCI AC World Growth||253.51||-0.1%||17.6%||1.8%|
|FTSE Gilts All Stocks||3,603.21||-0.1%||2.2%||8.5%|
|FTSE Index Linked All Stocks||648.57||0.2%||1.9%||21.2%|
|ML Sterling Corporate Bonds||399.40||0.0%||4.8%||10.7%|
|ML Global High Yield Bonds||369.59||0.1%||7.9%||15.0%|
|Brent Crude Oil||52.04||-1.0%||-11.5%||23.4%|
|Consumer Goods and Services||22,251.48||0.9%||13.0%||9.6%|
|Oil & Gas||7,762.39||-0.3%||-9.2%||54.2%|
|$ per £||1.28||0.0%||3.6%||-16.3%|
|€ per £||1.08||0.0%||-7.6%||-15.7%|
|¥ per £||139.63||-0.2%||-3.4%||-22.7%|
|VIX Index (Volatility)||12.23||-0.2%||-12.9%||-22.9%|
|Baltic Dry Index||1,200.00||-1.8%||24.9%||101.1%|
|BoE Base Rate||0.25%|
|LIBOR (3 months)||0.28%|
|Consumer Price Index||2.60%|
|Retail Price Index||3.60%|
|Yields / Ratios|
|FTSE 100 Adj P/E||22.26|
|FTSE All Share Adj P/E||21.38|
|FTSE All Share Yld||3.82%|
|15yr Gilt Yield||1.43%|
|10yr Gilt Yield||1.05%|
|10yr US Tres Yield||2.19%|
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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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.