Investment Market Update
Equities in Asia were mixed as investors assessed the latest news on US tax-cut plans and looked ahead to Friday’s American jobs report.
US markets closed at a record high on Thursday after US President Donald Trump formally announced Federal Reserve governor Jerome Powell as his pick to lead the US central bank.
UK stocks closed higher, led by companies benefitting from weakness in sterling. The pound fell after the Bank of England raised interest rates but warned any future rises would be limited.
- In the US, House Republican leaders began rolling out a tax bill on Thursday that contains sweeping changes for business and individual taxes, including a measure to cut the corporate tax rate to 20%.
After raising UK interest rates for the first time in more than a decade on Thursday, Mark Carney said the pending divorce from the European Union is the main risk to the outlook, aggravating existing weaknesses that could hold back potential growth.
|FTSE All Share||4,151.70||0.80%||7.20%||12.45%|
|FTSE Small Cap||5,887.89||0.10%||14.50%||10.97%|
|St. James's Place||1,200.00||1.50%||22.30%||3.85%|
|Euro Stoxx 600||394.94||-0.50%||9.30%||-1.20%|
|Dow Jones Ind||23,516.26||0.30%||19.00%||13.42%|
|MSCI AC Asia Pacific||169.964||0.20%||25.90%||2.34%|
|MSCI World (Developed)||2,043.24||0.10%||16.70%||5.32%|
|MSCI AC World (Dev & Em)||498.439||0.10%||18.20%||5.63%|
|MSCI Emerging Markets||1,127.31||-0.10%||30.70%||8.58%|
|MSCI AC World Value||218.408||0.20%||12.40%||9.50%|
|MSCI AC World Growth||268.036||0.00%||24.30%||1.81%|
|FTSE Gilts All Stocks||3,552.26||0.70%||0.80%||8.51%|
|FTSE Index Linked All Stocks||638.95||0.90%||0.30%||21.23%|
|ML Sterling Corporate Bonds||397.284||0.60%||4.20%||10.75%|
|ML Global High Yield Bonds||375.963||0.00%||9.80%||15.01%|
|Brent Crude Oil||60.62||0.20%||3.30%||23.39%|
|Consumer Goods and Services||22,081.00||0.70%||12.20%||9.56%|
|Oil & Gas||8,933.96||2.10%||4.50%||54.21%|
|$ per £||1.3261||1.60%||7.50%||-16.25%|
|€ per £||1.1405||1.80%||-2.80%||-15.73%|
|¥ per £||151.07401||1.40%||4.50%||-22.69%|
|VIX Index (Volatility)||9.93||-2.60%||-29.30%||-22.90%|
|Baltic Dry Index||1,496.00||-1.70%||55.70%||101.05%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.45%|
|Consumer Price Index||3.00%|
|Retail Price Index||3.90%|
|Yields / Ratios|
|FTSE 100 Adj P/E||20.49079|
|FTSE All Share Adj P/E||20.12149|
|FTSE All Share Yld||3.77%|
|15yr Gilt Yield||1.60%|
|10yr Gilt Yield||1.26%|
|10yr US Tres Yield||2.35%|
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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