Investment Market Update
Asian stocks were mixed as traders awaited China’s response to the latest step in an escalation of trade tensions between the world’s top two economies.
US stocks closed higher after a choppy session. The Dow Jones Industrial Average rose almost 390 points, or 1.6%, while the S&P 500 gained 1.3%. The Nasdaq added 1%.
UK markets closed lower as Mediclinic was the biggest faller, falling 4.6%, while Micro Focus added 2.4% to be the top riser. On the mid-cap FTSE 250, Fidessa jumped 13.8% after revealing the other potential offers we mentioned earlier.
- Beijing has vowed to retaliate after the United States published a list of about 1,300 Chinese products it plans to hit with a 25% tariff. The White House said the proposed extra tax on the imports was a response to unfair Chinese practices around intellectual property rights. The wide-ranging list includes items such as medical products, televisions and motorcycles.
- Shares in Spotify fell back on the first day of trading on the US stock market after the music streaming firm's highly anticipated launch. The shares opened at $165.90, more than a quarter higher than the $132 guide price set by the New York Stock Exchange on Monday. After going as high as $169, they lost ground to close at $149.01. That makes the Swedish company worth about $26bn, well above the value of other tech firms such as Twitter.
|FTSE All Share||3,881.04||-0.3%||-8.1%||9.0%|
|FTSE Small Cap||5,610.32||0.3%||-5.1%||14.9%|
|St. James's Place||1,072.50||-1.3%||-12.5%||20.9%|
|Euro Stoxx 600||369.07||-0.5%||-5.2%||7.7%|
|Dow Jones Ind||24,033.36||1.6%||-2.8%||25.1%|
|MSCI AC Asia Pacific||172.07||-0.3%||-1.0%||28.7%|
|MSCI World (Developed)||2,048.80||0.5%||-2.6%||20.1%|
|MSCI AC World (Dev & Em)||501.89||0.4%||-2.2%||21.6%|
|MSCI Emerging Markets||1,170.15||0.1%||1.0%||34.2%|
|MSCI AC World Value||215.46||0.5%||-3.8%||15.2%|
|MSCI AC World Growth||275.29||0.4%||-0.5%||28.3%|
|FTSE Gilts All Stocks||3,589.81||-0.2%||0.0%||3.0%|
|FTSE Index Linked All Stocks||644.09||-0.5%||-0.6%||2.3%|
|ML Sterling Corporate Bonds||394.74||-0.2%||-1.5%||5.7%|
|ML Global High Yield Bonds||376.43||0.0%||-0.3%||9.7%|
|Brent Crude Oil||68.12||0.7%||3.6%||14.5%|
|Consumer Goods and Services||19,467.28||-0.3%||-12.9%||13.6%|
|Oil & Gas||8,224.86||-0.1%||-9.2%||6.0%|
|$ per £||1.40||-0.2%||3.9%||9.5%|
|€ per £||1.14||-0.4%||1.4%||-4.0%|
|¥ per £||148.79||-0.6%||-2.3%||5.3%|
|VIX Index (Volatility)||21.10||-10.7%||91.1%||-21.4%|
|Baltic Dry Index||1,016.00||-3.7%||-25.6%||42.1%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.00%|
|Consumer Price Index||2.70%|
|Retail Price Index||3.60%|
|Yields / Ratios|
|FTSE 100 Adj P/E||12.55|
|FTSE All Share Adj P/E||12.91|
|FTSE All Share Yld||4.19%|
|15yr Gilt Yield||1.61%|
|10yr Gilt Yield||1.36%|
|10yr US Tres Yield||2.78%|
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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