Investment Market Update
Asian markets were mostly lower after a five-day rally as the Bank of Japan cut its inflation forecast while keeping stimulus unchanged, and investors assessed a plan to overhaul US taxes.
US stocks closed lower after the Trump administration outlined its tax cut plan. The biggest mover on the Dow was Procter & Gamble, which fell nearly 2.5%.
UK stocks ticked up in Wednesday trading, with the FTSE 100 index up to 7288.72. Standard Chartered shares rose 4% after its quarterly profit nearly doubled from a year ago as the bank brought loan losses under control.
- The Trump administration has proposed slashing the rate of corporation tax with the aim of spurring economic growth, the Treasury Secretary said. Steven Mnuchin unveiled President Trump's blueprint, which aims to cut the business tax rate from 35% to 15%.
- Total SA posted a 56% increase in first-quarter profit, beating analysts’ estimates as crude prices rebounded and the French giant continued to cut costs while increasing oil and gas production. “Good operational performance” and steadily decreasing production costs are allowing Total “to launch new projects and acquire resources,” Chief Executive Officer Patrick Pouyanne said in a statement.
|FTSE All Share||4,001.88||0.2%||3.3%||12.5%|
|FTSE Small Cap||5,535.45||0.5%||7.6%||11.0%|
|St. James's Place||1,131.00||0.3%||13.8%||3.9%|
|Euro Stoxx 600||388.73||0.5%||7.6%||-1.2%|
|Dow Jones Ind||20,975.09||-0.1%||6.1%||13.4%|
|MSCI AC Asia Pacific||149.33||0.4%||10.6%||2.3%|
|MSCI World (Developed)||1,882.44||0.0%||7.5%||5.3%|
|MSCI AC World (Dev & Em)||456.31||0.0%||8.2%||5.6%|
|MSCI Emerging Markets||982.53||0.0%||13.9%||8.6%|
|MSCI AC World Value||204.69||0.0%||5.3%||9.5%|
|MSCI AC World Growth||239.80||0.0%||11.2%||1.8%|
|FTSE Gilts All Stocks||3,585.71||-0.1%||1.7%||8.5%|
|FTSE Index Linked All Stocks||653.51||-0.5%||2.6%||21.2%|
|ML Sterling Corporate Bonds||390.52||0.0%||2.4%||10.7%|
|ML Global High Yield Bonds||357.82||0.0%||4.5%||15.0%|
|Brent Crude Oil||51.82||-0.5%||-11.3%||23.4%|
|Consumer Goods and Services||22,107.03||0.1%||12.3%||9.6%|
|Oil & Gas||7,675.79||0.3%||-10.2%||54.2%|
|$ per £||1.28||0.1%||4.1%||-16.3%|
|€ per £||1.17||-0.6%||0.0%||-15.7%|
|¥ per £||142.50||-0.6%||-1.4%||-22.7%|
|VIX Index (Volatility)||10.85||0.8%||-22.7%||-22.9%|
|Baltic Dry Index||1,147.00||-0.6%||19.4%||101.1%|
|BoE Base Rate||0.25%|
|LIBOR (3 months)||0.33%|
|Consumer Price Index||2.30%|
|Retail Price Index||3.10%|
|Yields / Ratios|
|FTSE 100 Adj P/E||26.22|
|FTSE All Share Adj P/E||24.55|
|FTSE All Share Yld||3.86%|
|15yr Gilt Yield||1.47%|
|10yr Gilt Yield||1.08%|
|10yr US Tres Yield||2.30%|
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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