Investment Market Update
Asian shares traded up as they reacted positively to the raise in interest rates in the US. Hong Kong's Hang Seng is up an impressive 1.7% with the city’s own rates hike lifting investor spirits.
US shares closed higher after the Federal Reserve raised its benchmark interest rate. The Federal Reserve had been expected to raise rates after strong February jobs figures and rising inflation, and wage gains.
UK stocks market edged higher, in advance of the interest rate decision by the US Federal Reserve later in the day. Pharmaceutical firm Hikma rose 8% after reporting stronger than expected annual results.
- The US Federal Reserve has raised its benchmark interest rate by 0.25% for only the third time in a decade. The central bank voted to raise its key rate target to a range of 0.75% to 1%. Federal Reserve policymakers are expected to increase rates a total of three times this year.
- Plans to increase National Insurance rates for self-employed people - announced in the Budget last week - have been dropped. Chancellor Philip Hammond has said the government will not proceed with the increases which were criticised for breaking a 2015 manifesto pledge. He told MPs in a Commons statement: "There will be no increases in National Insurance rates in this Parliament."
|FTSE All Share||4,008.36||0.1%||3.5%||12.5%|
|FTSE Small Cap||5,378.43||0.2%||4.6%||11.0%|
|St. James's Place||1,083.00||-0.2%||6.8%||3.9%|
|Euro Stoxx 600||375.10||0.4%||3.8%||-1.2%|
|Dow Jones Ind||20,950.10||0.5%||6.0%||13.4%|
|MSCI AC Asia Pacific||145.72||0.0%||7.9%||2.3%|
|MSCI World (Developed)||1,854.15||0.6%||5.9%||5.3%|
|MSCI AC World (Dev & Em)||448.20||0.6%||6.2%||5.6%|
|MSCI Emerging Markets||943.52||0.4%||9.4%||8.6%|
|MSCI AC World Value||203.22||0.6%||4.6%||9.5%|
|MSCI AC World Growth||232.99||0.6%||8.1%||1.8%|
|FTSE Gilts All Stocks||3,542.05||0.1%||0.5%||8.5%|
|FTSE Index Linked All Stocks||638.34||-0.1%||0.3%||21.2%|
|ML Sterling Corporate Bonds||386.03||0.1%||1.3%||10.7%|
|ML Global High Yield Bonds||349.00||0.3%||1.9%||15.0%|
|Brent Crude Oil||51.81||1.7%||-10.7%||23.4%|
|Consumer Goods and Services||21,897.30||-0.2%||11.2%||9.6%|
|Oil & Gas||7,851.06||0.2%||-8.2%||54.2%|
|$ per £||1.22||0.0%||-1.1%||-16.3%|
|€ per £||1.15||0.2%||-2.0%||-15.7%|
|¥ per £||140.20||0.4%||-3.0%||-22.7%|
|VIX Index (Volatility)||11.63||-5.4%||-17.2%||-22.9%|
|Baltic Dry Index||1,147.00||3.1%||19.4%||101.1%|
|BoE Base Rate||0.25%|
|LIBOR (3 months)||0.34%|
|Consumer Price Index||1.80%|
|Retail Price Index||2.60%|
|Yields / Ratios|
|FTSE 100 Adj P/E||26.99|
|FTSE All Share Adj P/E||24.79|
|FTSE All Share Yld||3.89%|
|15yr Gilt Yield||1.58%|
|10yr Gilt Yield||1.21%|
|10yr US Tres Yield||2.49%|
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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