Matthew Newton Wealth Management Ltd

Senior Partner Practice of St. James's Place Wealth Management


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Investment Market Update

25 April 2018

World markets

FTSE 100 0.4% 7425.40
FTSE 250 -0.6% 20195.31
Euro Stoxx 600 0.0% 383.11
S&P 500 -1.3% 2634.56
Nikkei -0.3% 22215.32
Hang Seng (HK$) -1.0% 30319.33


Asian stocks followed their US counterparts lower as worries about the earnings outlook weighed on industrial and technology shares. The 10-year Treasury yield steadied after piercing the 3% level for the first time in four years.


US stocks declined after coming under heavy pressure as the combination of a fresh push higher for Treasury yields and some worrying news on the corporate earnings front unsettled Wall Street.


UK stocks climbed, bolstered by gains for oil majors, as the price of Brent continued to climb to fresh three-year highs.


  • Government borrowing has fallen to its lowest annual level in 11 years, according to the latest official figures. Borrowing fell by £3.5bn to £42.6bn in the 2017-18 financial year, the Office for National Statistics said. That was below the estimate of £45.2bn produced by the independent Office for Budget Responsibility last month. Borrowing narrowed to 2.1% of gross domestic product (GDP) last year, down from 10% in 2010. 
  • Whitbread is to split off Costa, the UK's biggest coffee chain, as a separate firm, after activist pressure. The demerger will be "pursued as fast as practical and appropriate" to optimise value for shareholders. "We will ensure prior to separation each business is sufficiently developed and well-positioned," said Whitbread chairman Adam Crozier. 

Market data

UK (£)
FTSE 1007,425.400.4%-3.4%7.6%
FTSE 25020,195.31-0.6%-2.6%14.7%
FTSE All Share4,086.960.2%-3.2%9.0%
FTSE Small Cap5,831.480.2%-1.4%14.9%
St. James's Place1,123.00-2.0%-8.4%20.9%
Europe (€)
Euro Stoxx 600383.110.0%-1.6%7.7%
DAX 3012,550.82-0.2%-2.8%12.5%
CAC 405,444.160.1%2.5%9.3%
US (US$)
S&P 5002,634.56-1.3%-1.5%19.4%
Dow Jones Ind24,024.13-1.7%-2.8%25.1%
Hang Seng30,319.33-1.0%1.3%38.5%
Nikkei 22522,215.32-0.3%-2.4%19.1%
Australia 2005,921.550.0%-2.4%7.0%
MSCI AC Asia Pacific173.010.2%-0.5%28.7%
World (US$)
MSCI World (Developed)2,081.52-0.7%-1.0%20.1%
MSCI AC World (Dev & Em)508.08-0.7%-1.0%21.6%
MSCI Emerging Markets1,154.21-0.4%-0.4%34.2%
MSCI AC World Value219.33-0.3%-2.1%15.2%
MSCI AC World Growth277.21-1.1%0.2%28.3%
Fixed Income
FTSE Gilts All Stocks3,516.40-0.2%-2.0%3.0%
FTSE Index Linked All Stocks615.67-0.2%-5.0%2.3%
ML Sterling Corporate Bonds391.86-0.1%-2.2%5.7%
ML Global High Yield Bonds377.85-0.1%0.1%9.7%
Commodities (US$)
Brent Crude Oil73.86-1.1%12.3%14.5%
UK Sectors
Basic Materials6,361.010.7%0.7%25.0%
Consumer Goods and Services19,002.98-0.1%-15.0%13.6%
Health Care9,864.650.7%3.7%-3.7%
Oil & Gas9,338.431.6%3.1%6.0%
$ per £1.39-0.2%3.2%9.5%
€ per £1.140.0%1.4%-4.0%
¥ per £151.51-0.3%-0.5%5.3%
VIX Index (Volatility)18.0210.3%63.2%-21.4%
Baltic Dry Index1,330.001.8%-2.6%42.1%
UK Rates
BoE Base Rate0.50%
LIBOR (3 months)0.75%
Consumer Price Index2.50%
Retail Price Index3.30%
Yields / Ratios
FTSE 100 Adj P/E13.18
FTSE All Share Adj P/E13.55
FTSE All Share Yld3.98%
15yr Gilt Yield1.79%
10yr Gilt Yield1.54%
10yr US Tres Yield3.00%

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 2018. "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.


Matthew Newton Wealth Management Ltd

Matthew Newton

Director of Matthew Newton Wealth Management Ltd

Senior Partner Practice of St. James's Place Wealth Management

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