Investment Market Update
Asian stocks were adrift amid global uncertainty, equity markets in Asia struggled for direction early on Thursday after underwhelming overnight moves in Europe and the US, as investors adopted a collective wait-and-see attitude. Market participants are especially concerned about the repercussions of North Korea’s missile launch earlier this week, in addition to a Group of 20 meeting in Germany and Friday’s US jobs report.
US stocks finished marginally up despite the fall in energy shares as a decrease in the the price of oil hit the sector. Technolagy shares provided some support for the indexes while two hours before the markets closed the minutes of the Federal Reserve's most recent meeting were released, but had little impact due to their lack of insight into future interest rate increases.
UK stocks closed up overall as the FTSE 100 was up 10.37 points or 0.14% at 7,367.60. Shares in Worldpay slumped 8.8% after news broke that it was being taken over by US rival Vanti, while Tesco was the biggest riser, up 3.8% after wholesaler Booker reported strong sales figures.
- Scotland's economy rebounded in the first quarter of this year, boosted by growth in production and services. Official figures showed GDP grew by 0.8%, having shrunk by 0.2% in the previous three months. Scotland outstripped the UK as a whole, which saw growth of just 0.2% in the first three months of the year.
- Lenders have been told to raise their game after regulators highlighted the risks in the consumer credit market. The Bank of England's Prudential Regulation Authority (PRA) has highlighted various concerns during a review of lending in personal loans, credit cards and car finance. While it did not find looser credit scoring on the scale seen before the financial crisis it has told banks and others to address specific concerns.
|FTSE All Share||4,029.81||0.3%||4.0%||12.5%|
|FTSE Small Cap||5,581.15||0.4%||8.5%||11.0%|
|St. James's Place||1,196.00||0.1%||20.3%||3.9%|
|Euro Stoxx 600||382.99||0.2%||6.0%||-1.2%|
|Dow Jones Ind||21,478.17||0.0%||8.7%||13.4%|
|MSCI AC Asia Pacific||154.19||0.4%||14.2%||2.3%|
|MSCI World (Developed)||1,920.33||0.1%||9.7%||5.3%|
|MSCI AC World (Dev & Em)||465.88||0.1%||10.4%||5.6%|
|MSCI Emerging Markets||1,009.85||0.3%||17.1%||8.6%|
|MSCI AC World Value||207.49||-0.1%||6.7%||9.5%|
|MSCI AC World Growth||246.59||0.3%||14.4%||1.8%|
|FTSE Gilts All Stocks||3,532.57||-0.1%||0.2%||8.5%|
|FTSE Index Linked All Stocks||626.64||-0.6%||-1.6%||21.2%|
|ML Sterling Corporate Bonds||391.95||-0.1%||2.8%||10.7%|
|ML Global High Yield Bonds||363.97||0.0%||6.3%||15.0%|
|Brent Crude Oil||47.79||-3.7%||-18.8%||23.4%|
|Consumer Goods and Services||22,047.74||0.7%||12.0%||9.6%|
|Oil & Gas||7,568.03||-1.2%||-11.5%||54.2%|
|$ per £||1.29||0.0%||4.8%||-16.3%|
|€ per £||1.14||-0.1%||-2.9%||-15.7%|
|¥ per £||146.31||0.0%||1.3%||-22.7%|
|VIX Index (Volatility)||11.07||-1.3%||-21.2%||-22.9%|
|Baltic Dry Index||847.00||-2.8%||-11.9%||101.1%|
|BoE Base Rate||0.25%|
|LIBOR (3 months)||0.30%|
|Consumer Price Index||2.90%|
|Retail Price Index||3.70%|
|Yields / Ratios|
|FTSE 100 Adj P/E||24.67|
|FTSE All Share Adj P/E||23.22|
|FTSE All Share Yld||3.83%|
|15yr Gilt Yield||1.63%|
|10yr Gilt Yield||1.26%|
|10yr US Tres Yield||2.32%|
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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