Investment Market Update
Asian equity traders adopted a cautious tone following a dip in US stocks, with focus turning to a US inflation report for clues on the pace of Federal Reserve policy tightening. The dollar gained against major peers and Treasury yields held declines.
US stocks fell losing early momentum after starting the day on a positive note. Caterpillar shares fell 2.4% as the market assessed the impact of tariffs on steel and aluminum imports on some of the US's largest companies.
UK stocks closed lower with shares in takeaway app company Just Eat falling 4.8% after it was downgraded by Deutsche Bank. Just Eat published a new plan to expand its delivery operations last month but the analysts said it has "substantial implementation risks, additional costs and an uncertain return".
- President Donald Trump issued an executive order Monday blocking Broadcom Ltd. from pursuing its hostile takeover of Qualcomm Inc., scuttling a $117 billion deal that had been scrutinised by a secretive panel over the tie-up’s threat to US national security.
- The 22 billion-euro deal that’s shaking up the world of German utilities also has a very British dimension. EON SE’s acquisition of Innogy SE will combine the two UK businesses they own, shrinking the country’s Big Six utilities to five at a time when both the government and main opposition party are pressing for lower bills. It also emphasises Britain’s dependence on foreign companies for power and natural gas.
|FTSE All Share||3,991.04||-0.1%||-5.5%||9.0%|
|FTSE Small Cap||5,806.57||0.5%||-1.8%||14.9%|
|St. James's Place||1,150.00||-0.3%||-6.2%||20.9%|
|Euro Stoxx 600||379.20||0.3%||-2.6%||7.7%|
|Dow Jones Ind||25,178.61||-0.6%||1.9%||25.1%|
|MSCI AC Asia Pacific||178.59||1.7%||2.7%||28.7%|
|MSCI World (Developed)||2,154.26||0.2%||2.4%||20.1%|
|MSCI AC World (Dev & Em)||527.30||0.4%||2.8%||21.6%|
|MSCI Emerging Markets||1,222.20||1.2%||5.5%||34.2%|
|MSCI AC World Value||224.85||0.3%||0.4%||15.2%|
|MSCI AC World Growth||291.06||0.4%||5.2%||28.3%|
|FTSE Gilts All Stocks||3,519.31||0.0%||-1.9%||3.0%|
|FTSE Index Linked All Stocks||625.40||0.1%||-3.5%||2.3%|
|ML Sterling Corporate Bonds||393.01||0.0%||-1.9%||5.7%|
|ML Global High Yield Bonds||378.38||0.1%||0.3%||9.7%|
|Brent Crude Oil||64.95||-0.8%||-1.7%||14.5%|
|Consumer Goods and Services||19,756.35||-0.4%||-11.6%||13.6%|
|Oil & Gas||8,252.39||-0.2%||-8.9%||6.0%|
|$ per £||1.39||-0.4%||2.5%||9.5%|
|€ per £||1.13||-0.2%||-0.1%||-4.0%|
|¥ per £||147.92||-0.1%||-2.8%||5.3%|
|VIX Index (Volatility)||15.78||7.8%||42.9%||-21.4%|
|Baltic Dry Index||1,201.00||0.0%||-12.1%||42.1%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.60%|
|Consumer Price Index||3.00%|
|Retail Price Index||4.00%|
|Yields / Ratios|
|FTSE 100 Adj P/E||12.74|
|FTSE All Share Adj P/E||13.17|
|FTSE All Share Yld||4.10%|
|15yr Gilt Yield||1.76%|
|10yr Gilt Yield||1.49%|
|10yr US Tres Yield||2.87%|
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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