Investment Market Update
Asian stocks rose, halting a retreat from historic highs after a four-day decline. Australian bonds climbed after a rally in Treasuries spurred in part by the global equities sell-off.
US stocks closed lower, extending amid a drop in oil prices and disappointing corporate forecasts. The fall comes as Washington wrestles with a controversial tax plan that would cut corporate tax rates, oil prices have fallen and investors expect higher interest rates in the US and elsewhere.
UK stocks fell to a six-week low on Wednesday, weighed down by falls in mining and oil stocks. The biggest losers were mining firms including Glencore and Anglo American, along with oil giants BP and Shell. It comes after further falls in global oil and commodity prices, with Brent crude extending its losses and falling more than 1% to $61.40 a barrel.
- Shadow chancellor John McDonnell is to demand "an emergency Budget for our public services". He is to lay out five proposals for next week's Budget, including funding to lift public sector pay. He will also claim that the government is failing to stop tax avoidance, and that it wants to cut corporation taxes in a "race to the bottom".
- Airbus SE announced the biggest commercial-plane transaction in its history, securing an order for single-aisle aircraft valued at nearly $50 billion at the Dubai Air Show, outdoing Boeing Co.’s own $20 billion mega-deal.
|FTSE All Share||4,044.62||-0.6%||4.4%||12.5%|
|FTSE Small Cap||5,746.11||-0.7%||11.7%||11.0%|
|St. James's Place||1,135.00||-0.7%||11.9%||3.9%|
|Euro Stoxx 600||381.96||-0.5%||5.7%||-1.2%|
|Dow Jones Ind||23,271.28||-0.6%||17.8%||13.4%|
|MSCI AC Asia Pacific||167.80||-1.0%||24.3%||2.3%|
|MSCI World (Developed)||2,021.03||-0.5%||15.4%||5.3%|
|MSCI AC World (Dev & Em)||492.82||-0.5%||16.8%||5.6%|
|MSCI Emerging Markets||1,111.12||-0.6%||28.9%||8.6%|
|MSCI AC World Value||214.60||-0.5%||10.4%||9.5%|
|MSCI AC World Growth||266.59||-0.6%||23.6%||1.8%|
|FTSE Gilts All Stocks||3,544.48||0.2%||0.6%||8.5%|
|FTSE Index Linked All Stocks||640.41||0.0%||0.6%||21.2%|
|ML Sterling Corporate Bonds||394.40||0.0%||3.5%||10.7%|
|ML Global High Yield Bonds||372.10||-0.2%||8.6%||15.0%|
|Brent Crude Oil||61.87||-0.5%||5.5%||23.4%|
|Consumer Goods and Services||21,593.04||-0.7%||9.7%||9.6%|
|Oil & Gas||8,705.51||-1.5%||1.8%||54.2%|
|$ per £||1.32||0.0%||6.8%||-16.3%|
|€ per £||1.12||0.2%||-4.6%||-15.7%|
|¥ per £||149.47||0.3%||3.4%||-22.7%|
|VIX Index (Volatility)||13.13||13.3%||-6.5%||-22.9%|
|Baltic Dry Index||1,374.00||-2.2%||43.0%||101.1%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.53%|
|Consumer Price Index||3.00%|
|Retail Price Index||4.00%|
|Yields / Ratios|
|FTSE 100 Adj P/E||19.78|
|FTSE All Share Adj P/E||19.37|
|FTSE All Share Yld||3.92%|
|15yr Gilt Yield||1.61%|
|10yr Gilt Yield||1.29%|
|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.
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.