Investment Market Update
Asian stocks closed lower as the technology, mining, consumer and industrial sectors led declines. Japan equities fell sharply, as did Hong Kong’s Hang Seng Index.
US stocks ended lower as a technology rebound lost steam and Walt Disney Co dipped, while investors assessed how a Republican tax overhaul would impact corporate earnings.
UK stocks finished down at losing momentum in afternoon trading. Mining stocks provided the biggest drag, with Glencore and Anglo American falling by more than 2%. They were hurt by drops in metal prices, as copper and nickel hit their lowest levels in two months.
- The European Union has published its first blacklist of tax havens, naming 17 territories including Saint Lucia, Barbados and South Korea. A "watchlist" of 47 countries promising to change their tax rules to meet EU standards has also been issued. The "grey list" includes several with UK links, including Hong Kong, Jersey, Bermuda and the Cayman Islands, as well as Switzerland and Turkey.
- Pharma giant GlaxoSmithKline will invest £40m in UK genetic research as part of the government's life sciences sector deal. US drug maker Merck, and diagnostics company QIAGEN last month announced UK investments worth more than £1bn. Several dozen other companies are expected to announce further deals in the coming weeks.
|FTSE All Share||4,031.05||-0.2%||4.1%||12.5%|
|FTSE Small Cap||5,755.32||-0.2%||11.9%||11.0%|
|St. James's Place||1,175.00||-2.1%||15.9%||3.9%|
|Euro Stoxx 600||386.74||-0.2%||7.0%||-1.2%|
|Dow Jones Ind||24,180.64||-0.5%||22.4%||13.4%|
|MSCI AC Asia Pacific||169.43||-0.2%||25.5%||2.3%|
|MSCI World (Developed)||2,063.64||-0.3%||17.8%||5.3%|
|MSCI AC World (Dev & Em)||502.33||-0.3%||19.1%||5.6%|
|MSCI Emerging Markets||1,117.69||-0.4%||29.6%||8.6%|
|MSCI AC World Value||219.95||-0.4%||13.2%||9.5%|
|MSCI AC World Growth||270.29||-0.2%||25.4%||1.8%|
|FTSE Gilts All Stocks||3,557.93||0.2%||0.9%||8.5%|
|FTSE Index Linked All Stocks||644.61||1.0%||1.2%||21.2%|
|ML Sterling Corporate Bonds||396.46||0.1%||4.0%||10.7%|
|ML Global High Yield Bonds||376.08||0.0%||9.8%||15.0%|
|Brent Crude Oil||62.86||0.7%||7.3%||23.4%|
|Consumer Goods and Services||21,571.75||0.6%||9.6%||9.6%|
|Oil & Gas||8,609.22||-0.2%||0.7%||54.2%|
|$ per £||1.35||0.2%||9.1%||-16.3%|
|€ per £||1.14||-0.2%||-3.1%||-15.7%|
|¥ per £||151.86||0.3%||5.1%||-22.7%|
|VIX Index (Volatility)||11.33||-3.0%||-19.3%||-22.9%|
|Baltic Dry Index||1,666.00||0.2%||73.4%||101.1%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.52%|
|Consumer Price Index||3.00%|
|Retail Price Index||4.00%|
|Yields / Ratios|
|FTSE 100 Adj P/E||19.77|
|FTSE All Share Adj P/E||19.28|
|FTSE All Share Yld||3.80%|
|15yr Gilt Yield||1.58%|
|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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