Investment Market Update
Asian stock markets gave up an early lead, with Chinese stocks leading the declines, amid worries about US-China trade relations and continued tech-stock weakness on Wall Street.
US stocks closed lower with the S&P 500 and the Dow Jones Industrial Average turning red for the year as doubts about whether equities can count on support from corporate earnings emerged in the wake of disappointing results from a handful of mega-cap companies.
UK stocks closed lower with the FTSE 100 closing 64 points lower at 6,939.56.
- The US economy grew at an annualised rate of 3.5% in the third quarter of the year, official figures have shown. The US Commerce Department said strong consumer and government spending helped to bolster the economy. But lower exports weighed on growth, after a surge earlier in the year as firms rushed shipments to beat tariffs.
- The government will set a new Budget if it is unable to reach a Brexit deal with the EU, the chancellor has said. Philip Hammond said a no-deal Brexit would require a "different response", with "fiscal buffers" being maintained to provide support for the economy. Mr Hammond was speaking on the eve of his Budget, which he will present to the Commons on Monday.
|FTSE All Share||3,800.41||-0.9%||-10.0%||9.0%|
|FTSE Small Cap||5,354.70||-1.4%||-9.4%||14.9%|
|St. James's Place||969.80||-1.4%||-20.9%||20.9%|
|Euro Stoxx 600||352.34||-0.8%||-9.5%||7.7%|
|Dow Jones Ind||24,688.31||-1.2%||-0.1%||25.1%|
|MSCI AC Asia Pacific||146.60||-0.2%||-15.7%||28.7%|
|MSCI World (Developed)||1,981.89||-1.2%||-5.8%||20.1%|
|MSCI AC World (Dev & Em)||475.11||-1.2%||-7.4%||21.6%|
|MSCI Emerging Markets||939.55||-1.0%||-18.9%||34.2%|
|MSCI AC World Value||202.54||-0.9%||-9.6%||15.2%|
|MSCI AC World Growth||262.16||-1.5%||-5.3%||28.3%|
|FTSE Gilts All Stocks||3,589.90||0.5%||0.0%||3.0%|
|FTSE Index Linked All Stocks||649.30||0.9%||0.2%||2.3%|
|ML Sterling Corporate Bonds||396.13||0.3%||-1.2%||5.7%|
|ML Global High Yield Bonds||372.82||-0.2%||-1.2%||9.7%|
|Brent Crude Oil||77.62||0.9%||22.0%||14.5%|
|Consumer Goods and Services||19,487.96||-0.4%||-12.8%||13.6%|
|Oil & Gas||8,941.45||-0.7%||-1.3%||6.0%|
|$ per £||1.28||0.0%||-5.1%||9.5%|
|€ per £||1.13||0.2%||0.1%||-4.0%|
|¥ per £||144.40||0.6%||-5.1%||5.3%|
|VIX Index (Volatility)||24.16||-0.2%||118.8%||-21.4%|
|Baltic Dry Index||1,519.00||0.2%||11.2%||42.1%|
|BoE Base Rate||0.75%|
|LIBOR (3 months)||0.81%|
|Consumer Price Index||2.40%|
|Retail Price Index||3.30%|
|Yields / Ratios|
|FTSE 100 Adj P/E||11.72|
|FTSE All Share Adj P/E||10.74|
|FTSE All Share Yld||4.51%|
|15yr Gilt Yield||1.57%|
|10yr Gilt Yield||1.38%|
|10yr US Tres Yield||3.08%|
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.