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Investment Market Update

28 November 2018

World markets

FTSE 100 -0.3% 7016.85
FTSE 250 -0.3% 18660.89
Euro Stoxx 600 -0.3% 357.40
S&P 500 0.3% 2682.17
Nikkei 1.0% 22177.02
Hang Seng (HK$) 1.3% 26678.91

asia

Asian stocks climbed, as a rally in technology shares gathered pace, with investors mulling comments from Federal Reserve officials and the chances of a breakthrough in the US-China trade dispute.

us

US stocks shrugged off early weakness on Tuesday and finished modestly higher as investors weighed the odds for progress on the US-China trade fight. The market had opened lower after US President Donald Trump appeared to dismiss the idea of a deal with China at this week's Group of 20 summit. But the more upbeat comments on Tuesday from White House economic adviser Larry Kudlow on the possibility of an agreement cheered investors.

uk

UK stocks closed lower on Tuesday, as miners fell with metals prices dented by fears of a further escalation in US-China trade tensions. The big movers of the day saw Thomas Cook Group lose as much as 31% after it suspended its 2018 dividend and cut its profit forecast for the second time in two months. Greggs shares were as much as 16% higher after it reported strong sales in October and November and said it expected higher 2018 profits.


Headlines

  • British retail sales perked up in November by more than expected, but stores’ confidence for the coming months deteriorated ahead of Brexit, an industry survey showed on Tuesday. The survey was conducted before last week’s Black Friday promotions. While November’s pick-up was stronger than expected, other parts of the survey were less promising. Business expectations for the next three months cooled to their lowest level since May 2017.
     
  • The sale of GlaxoSmithKline Plc’s Indian Horlicks nutrition business is nearly concluded and one of two of the largest European consumer companies, Unilever Plc and Nestlé SA, is likely to be the successful bidder. The auction for the assets, including popular malt-based health drinks brands Horlicks and Boost, could attract more than $4 billion. GlaxoSmithKline owns a 72.5% stake in the business. Coca-Cola were another likely suitor as they have been looking to expand in emerging markets as growth in the United States slows.

Market data

Price1dYTD2017
UK (£)
FTSE 1007,016.85-0.3%-8.7%7.6%
FTSE 25018,660.89-0.3%-10.0%14.7%
FTSE All Share3,845.17-0.3%-8.9%9.0%
FTSE Small Cap5,377.61-0.1%-9.0%14.9%
St. James's Place1,061.500.6%-13.4%20.9%
Europe (€)
Euro Stoxx 600357.40-0.3%-8.2%7.7%
DAX 3011,309.11-0.4%-12.5%12.5%
CAC 404,983.15-0.2%-6.2%9.3%
US (US$)
S&P 5002,682.170.3%0.3%19.4%
Dow Jones Ind24,748.730.4%0.1%25.1%
NASDAQ7,082.700.0%2.6%28.2%
Asia
Hang Seng26,678.911.3%-10.8%38.5%
Nikkei 22522,177.021.0%-2.6%19.1%
Australia 2005,725.08-0.1%-5.6%7.0%
MSCI AC Asia Pacific151.740.4%-12.7%28.7%
World (US$)
MSCI World (Developed)2,000.070.0%-4.9%20.1%
MSCI AC World (Dev & Em)481.240.1%-6.2%21.6%
MSCI Emerging Markets980.160.4%-15.4%34.2%
MSCI AC World Value206.820.2%-7.7%15.2%
MSCI AC World Growth263.410.0%-4.8%28.3%
Fixed Income
FTSE Gilts All Stocks3,547.30-0.1%-1.2%3.0%
FTSE Index Linked All Stocks627.86-0.2%-3.1%2.3%
ML Sterling Corporate Bonds388.75-0.1%-3.0%5.7%
ML Global High Yield Bonds367.51-0.3%-2.6%9.7%
Commodities (US$)
Brent Crude Oil60.21-0.4%-4.9%14.5%
Gold1,213.25-0.8%-7.1%11.8%
UK Sectors
Basic Materials5,516.97-1.8%-12.7%25.0%
Consumer Goods and Services18,485.980.3%-17.3%13.6%
Financials4,776.32-0.3%-11.8%13.3%
Health Care10,782.54-0.7%13.3%-3.7%
Industrials3,845.17-0.3%-8.9%9.0%
Oil & Gas8,735.28-0.4%-3.6%6.0%
Technology1,796.110.0%-22.0%23.5%
Telecommunications2,661.171.6%-21.3%0.1%
Utilities6,916.801.3%-5.7%-14.8%
Currencies
$ per £1.280.7%-5.1%9.5%
€ per £1.130.2%0.4%-4.0%
¥ per £145.510.4%-4.4%5.3%
Indicators
VIX Index (Volatility)19.020.6%72.3%-21.4%
Baltic Dry Index1,339.0010.0%-2.0%42.1%
UK Rates
BoE Base Rate0.75%
LIBOR (3 months)0.89%
Consumer Price Index2.40%
Retail Price Index3.30%
Yields / Ratios
FTSE 100 Adj P/E11.65
FTSE All Share Adj P/E11.64
FTSE All Share Yld4.50%
15yr Gilt Yield1.63%
10yr Gilt Yield1.39%
10yr US Tres Yield3.06%

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.

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