Investment Market Update
Stocks in Asia were mixed after US equities dipped in the wake of congressional passage of US tax cuts, suggesting investors see the growth-boost narrative from the corporate and individual rate reductions as having played out.
US equity markets fell in lighter-than-usual trading as lawmakers moved a step closer to slashing corporate tax rates in the world’s largest economy.
UK stocks fell with pessimism over Brexit showing no sign of letting up and sterling’s recovery threatening exporter profit.
- The Bank of Japan left policy settings unchanged in the final meeting of 2017, retaining its unprecedented monetary stimulus as it waits for a pickup in stubbornly low inflation. The central bank will continue to target interest rates and buy financial assets to achieve its 2% inflation goal.
- The US has ruled that Canada's Bombardier received government subsidies and sold C-Series jets below cost in the US, a step likely to lead to steep tariffs. The US Commerce Department investigated the aerospace firm's US sales after a petition from rival American company Boeing.
|FTSE All Share||4,135.16||-0.2%||6.8%||12.5%|
|FTSE Small Cap||5,807.19||-0.1%||12.9%||11.0%|
|St. James's Place||1,191.00||-0.8%||17.5%||3.9%|
|Euro Stoxx 600||388.37||-0.7%||7.5%||-1.2%|
|Dow Jones Ind||24,726.65||-0.1%||25.1%||13.4%|
|MSCI AC Asia Pacific||171.61||0.0%||27.1%||2.3%|
|MSCI World (Developed)||2,095.45||0.0%||19.7%||5.3%|
|MSCI AC World (Dev & Em)||509.96||0.0%||20.9%||5.6%|
|MSCI Emerging Markets||1,132.85||0.1%||31.4%||8.6%|
|MSCI AC World Value||222.46||0.0%||14.4%||9.5%|
|MSCI AC World Growth||275.41||-0.1%||27.7%||1.8%|
|FTSE Gilts All Stocks||3,558.02||-0.6%||0.9%||8.5%|
|FTSE Index Linked All Stocks||637.88||-0.5%||0.2%||21.2%|
|ML Sterling Corporate Bonds||398.03||-0.5%||4.4%||10.7%|
|ML Global High Yield Bonds||375.90||0.1%||9.7%||15.0%|
|Brent Crude Oil||64.56||1.2%||10.2%||23.4%|
|Consumer Goods and Services||21,941.60||-0.9%||11.5%||9.6%|
|Oil & Gas||8,799.41||-0.1%||2.9%||54.2%|
|$ per £||1.34||-0.2%||8.3%||-16.3%|
|€ per £||1.13||0.2%||-3.6%||-15.7%|
|¥ per £||151.15||-0.4%||4.6%||-22.7%|
|VIX Index (Volatility)||9.72||-3.1%||-30.8%||-22.9%|
|Baltic Dry Index||1,476.00||-4.6%||53.6%||101.1%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.51%|
|Consumer Price Index||3.10%|
|Retail Price Index||3.90%|
|Yields / Ratios|
|FTSE 100 Adj P/E||20.40|
|FTSE All Share Adj P/E||19.80|
|FTSE All Share Yld||3.72%|
|15yr Gilt Yield||1.57%|
|10yr Gilt Yield||1.25%|
|10yr US Tres Yield||2.50%|
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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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.