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Investment Market Update

28 December 2018

World markets

FTSE 100 -1.5% 6584.68
FTSE 250 -1.3% 17090.47
Euro Stoxx 600 -1.7% 329.58
S&P 500 0.9% 2488.83
Nikkei -0.3% 20014.77
Hang Seng (HK$) 0.1% 25505.76


Asian stocks put in a mixed performance, limping toward a modest weekly advance at the tail end what’s been the worst year since 2011. The yen led gains against the dollar as traders looked for havens from a remarkable bout of volatility.


US stocks turned green in a late surge after trading negative for most of the day, with a more than 800 point swing higher by the Dow in less than two hours. The S&P 500 erased a 2.8% drop for its biggest reversal since 2010.


UK stocks have ended lower, as the FTSE 100 index fell by -1.5%.


  • The partial US government shutdown is likely to continue into 2019 after House Republicans said they didn’t plan any votes this week and President Donald Trump said most federal employees losing pay because of the closure are Democrats.
  • The world’s biggest banks are reckoning on a rebound in oil prices next year as fears of a recession prove misplaced. The Brent benchmark will average $70 a barrel in 2019, almost a third higher than its price yesterday, according to a Bloomberg survey of oil analysts.

Market data

UK (£)
FTSE 1006,584.68-1.5%-14.3%7.6%
FTSE 25017,090.47-1.3%-17.5%14.7%
FTSE All Share3,596.07-1.4%-14.8%9.0%
FTSE Small Cap5,088.99-0.1%-13.9%14.9%
St. James's Place914.00-2.3%-25.4%20.9%
Europe (€)
Euro Stoxx 600329.58-1.7%-15.3%7.7%
DAX 3010,381.51-2.4%-19.6%12.5%
CAC 404,598.61-0.6%-13.4%9.3%
US (US$)
S&P 5002,488.830.9%-6.9%19.4%
Dow Jones Ind23,138.821.1%-6.4%25.1%
Hang Seng25,505.760.1%-14.8%38.5%
Nikkei 22520,014.77-0.3%-12.1%19.1%
Australia 2005,654.321.0%-6.8%7.0%
MSCI AC Asia Pacific145.461.8%-16.3%28.7%
World (US$)
MSCI World (Developed)1,862.380.6%-11.5%20.1%
MSCI AC World (Dev & Em)450.320.6%-12.2%21.6%
MSCI Emerging Markets952.330.2%-17.8%34.2%
MSCI AC World Value192.080.5%-14.3%15.2%
MSCI AC World Growth248.350.6%-10.3%28.3%
Fixed Income
FTSE Gilts All Stocks3,606.51-0.5%0.5%3.0%
FTSE Index Linked All Stocks647.18-1.0%-0.1%2.3%
ML Sterling Corporate Bonds391.50-0.3%-2.3%5.7%
ML Global High Yield Bonds363.390.1%-3.7%9.7%
Commodities (US$)
Brent Crude Oil52.16-4.2%-17.2%14.5%
UK Sectors
Basic Materials5,676.02-1.4%-10.2%25.0%
Consumer Goods and Services17,209.67-1.5%-23.0%13.6%
Health Care10,212.96-2.5%7.3%-3.7%
Oil & Gas8,243.29-1.5%-9.0%6.0%
$ per £1.260.0%-6.4%9.5%
€ per £1.110.7%-1.1%-4.0%
¥ per £140.270.3%-7.9%5.3%
VIX Index (Volatility)29.96-1.5%171.4%-21.4%
Baltic Dry Index1,271.000.0%#N/A42.1%
UK Rates
BoE Base Rate0.75%
LIBOR (3 months)0.91%
Consumer Price Index2.30%
Retail Price Index3.20%
Yields / Ratios
FTSE 100 Adj P/E10.98
FTSE All Share Adj P/E11.16
FTSE All Share Yld4.93%
15yr Gilt Yield1.52%
10yr Gilt Yield1.31%
10yr US Tres Yield2.77%

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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