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Investment Market Update

20 September 2018

World markets

FTSE 100 0.4% 7331.12
FTSE 250 0.2% 20500.45
Euro Stoxx 600 0.3% 379.98
S&P 500 0.1% 2907.95
Nikkei 0.1% 23693.96
Hang Seng (HK$) 0.0% 27395.29


Asian stocks weakened on Thursday as rising US Treasury yields threatened to pose a fresh test for equity investors. The dollar maintained declines against most major peers and oil extended gains. 


US stocks closed mostly higher Wednesday as investors took escalating trade tensions in stride to instead focus on improving economic fundamentals. 


UK stocks extended its rally on Wednesday to hit a near two-week high as investors focussed on hopes a US-China trade war was losing intensity.


  • The UK inflation rate unexpectedly rose in August to 2.7%, the highest level in six months. Economists had expected a Consumer Prices Index rate of 2.4%. The pound rose after the data was released by the Office for National Statistics. Wages are still rising more than inflation, with data last week showing wages, excluding bonuses, grew by 2.9% in the three months to July.
  • Argentina's economy shrank by 4.2% in the second quarter, its sharpest year-on-year slowdown since 2014. The decline was accompanied by a steep fall in exports, after a drought hurt the country's agricultural sector. The contraction also came amid a currency crisis that has prompted the central bank to raise interest rates to 60% and the government to cut spending.

Market data

UK (£)
FTSE 1007,331.120.4%-4.6%7.6%
FTSE 25020,500.450.2%-1.1%14.7%
FTSE All Share4,054.630.4%-4.0%9.0%
FTSE Small Cap5,814.250.4%-1.7%14.9%
St. James's Place1,111.501.4%-9.3%20.9%
Europe (€)
Euro Stoxx 600379.980.3%-2.4%7.7%
DAX 3012,219.020.5%-5.4%12.5%
CAC 405,393.740.6%1.5%9.3%
US (US$)
S&P 5002,907.950.1%8.8%19.4%
Dow Jones Ind26,405.760.6%6.8%25.1%
Hang Seng27,395.290.0%-8.4%38.5%
Nikkei 22523,693.960.1%4.1%19.1%
Australia 2006,169.50-0.3%1.7%7.0%
MSCI AC Asia Pacific164.051.3%-5.6%28.7%
World (US$)
MSCI World (Developed)2,177.740.3%3.5%20.1%
MSCI AC World (Dev & Em)521.980.3%1.7%21.6%
MSCI Emerging Markets1,031.071.1%-11.0%34.2%
MSCI AC World Value219.100.5%-2.2%15.2%
MSCI AC World Growth292.390.2%5.6%28.3%
Fixed Income
FTSE Gilts All Stocks3,526.08-0.5%-1.8%3.0%
FTSE Index Linked All Stocks620.70-0.5%-4.2%2.3%
ML Sterling Corporate Bonds391.71-0.4%-2.3%5.7%
ML Global High Yield Bonds378.390.0%0.3%9.7%
Commodities (US$)
Brent Crude Oil79.400.5%24.0%14.5%
UK Sectors
Basic Materials5,949.583.0%-5.8%25.0%
Consumer Goods and Services19,629.11-0.7%-12.2%13.6%
Health Care10,438.900.2%9.7%-3.7%
Oil & Gas9,336.130.3%3.0%6.0%
$ per £1.31-0.2%-2.8%9.5%
€ per £1.130.0%0.0%-4.0%
¥ per £147.56-0.1%-3.1%5.3%
VIX Index (Volatility)11.75-8.1%6.4%-21.4%
Baltic Dry Index1,373.001.3%0.5%42.1%
UK Rates
BoE Base Rate0.75%
LIBOR (3 months)0.80%
Consumer Price Index2.70%
Retail Price Index3.50%
Yields / Ratios
FTSE 100 Adj P/E12.24
FTSE All Share Adj P/E12.31
FTSE All Share Yld4.20%
15yr Gilt Yield1.75%
10yr Gilt Yield1.61%
10yr US Tres Yield3.06%

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.

Some of the products and investment structures documented within this article will not be available to our clients in Asia. For information on the funds that are available please get in touch.


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