Investment Market Update
Asian stocks steadied on Wednesday but investors were wary ahead of the UK election, a European Central Bank meeting, and testimony at a Senate Intelligence Committee hearing by James Comey, the former FBI chief fired by President Donald Trump.
Shares on Wall Street closed lower on Tuesday, as retail stocks weighed on markets and political events expected this week kept traders cautious. Department store Macy's fell more than 8% after executives held an investor meeting and warned the firm's margins would be lower.
UK large caps closed flat in percentage terms while more domestically-exposed mid cap stocks dropped more than 1%, as investors sought safety in precious metals miners and defensives ahead of Thursday's general election.
- Spanish bank Banco Popular has been rescued by its larger rival Santander from the brink of collapse. The rescue will cost Santander 7bn euros (£6.1bn) to prop up Popular, around 2bn euros more than analysts had expected. Banco Popular was described by the European Central Bank as "failing or likely to fail" due to dwindling cash reserves.
- South Africa has fallen into recession for the first time in eight years after economic growth shrank by 0.7% between January and March. The downturn, due to weak manufacturing and trade, follows a 0.3% fall in GDP in the final quarter last year.
|FTSE All Share||4,105.93||-0.2%||6.0%||12.5%|
|FTSE Small Cap||5,596.48||-0.6%||8.8%||11.0%|
|St. James's Place||1,159.00||-1.2%||16.6%||3.9%|
|Euro Stoxx 600||389.40||-0.7%||7.7%||-1.2%|
|Dow Jones Ind||21,136.23||-0.2%||7.0%||13.4%|
|MSCI AC Asia Pacific||155.33||-0.1%||15.0%||2.3%|
|MSCI World (Developed)||1,926.05||-0.3%||10.0%||5.3%|
|MSCI AC World (Dev & Em)||467.42||-0.3%||10.8%||5.6%|
|MSCI Emerging Markets||1,015.89||-0.2%||17.8%||8.6%|
|MSCI AC World Value||205.96||-0.2%||6.0%||9.5%|
|MSCI AC World Growth||250.02||-0.4%||15.9%||1.8%|
|FTSE Gilts All Stocks||3,615.80||0.5%||2.6%||8.5%|
|FTSE Index Linked All Stocks||655.68||0.7%||3.0%||21.2%|
|ML Sterling Corporate Bonds||397.66||0.4%||4.3%||10.7%|
|ML Global High Yield Bonds||363.95||0.0%||6.3%||15.0%|
|Brent Crude Oil||50.12||1.3%||-14.8%||23.4%|
|Consumer Goods and Services||23,141.24||0.4%||17.6%||9.6%|
|Oil & Gas||7,821.37||0.1%||-8.5%||54.2%|
|$ per £||1.29||0.3%||4.7%||-16.3%|
|€ per £||1.15||0.5%||-2.1%||-15.7%|
|¥ per £||142.76||1.3%||-1.2%||-22.7%|
|VIX Index (Volatility)||10.45||3.8%||-25.6%||-22.9%|
|Baltic Dry Index||818.00||-0.4%||-14.9%||101.1%|
|BoE Base Rate||0.25%|
|LIBOR (3 months)||0.29%|
|Consumer Price Index||2.70%|
|Retail Price Index||3.50%|
|Yields / Ratios|
|FTSE 100 Adj P/E||25.31|
|FTSE All Share Adj P/E||23.77|
|FTSE All Share Yld||3.76%|
|15yr Gilt Yield||1.39%|
|10yr Gilt Yield||0.98%|
|10yr US Tres Yield||2.15%|
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 2017. "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.