Investment Market Update
Asian stocks were mixed on Wednesday, with markets in Japan and Hong Kong gaining ground as South Korean stocks fell, while investors waited for the final votes to overhaul the US tax code.
US stocks dropped despite the Senate approving the bill for the largest overhaul of the US tax code in 30 years. Each of the major indices moved lower a day after they all hit record highs.
UK stocks closed higher with the FTSE 100 at 7,544.09, still supported by a weaker pound. The index was led by Shire Plc, up 3.7% to £39.15, despite the fact that its experimental drug for children with Hunter syndrome failed to meet late-stage clinical trial goals.
- The Bank of England is to unveil plans allowing European banks to operate in the UK as normal post-Brexit. Banks offering wholesale finance - money and services provided to businesses and each other - would operate under existing rules.
- US Senate has approved the most sweeping overhaul of the US tax system in more than three decades. The House of Representatives earlier approved the bill comfortably. Republicans have majorities in both houses of Congress. For final approval the legislation must go back to the House on Wednesday for a procedural issue.
|FTSE All Share||4,143.35||0.2%||7.0%||12.5%|
|FTSE Small Cap||5,814.73||0.4%||13.1%||11.0%|
|St. James's Place||1,201.00||0.6%||18.4%||3.9%|
|Euro Stoxx 600||391.02||-0.4%||8.2%||-1.2%|
|Dow Jones Ind||24,754.75||-0.2%||25.3%||13.4%|
|MSCI AC Asia Pacific||171.60||0.0%||27.1%||2.3%|
|MSCI World (Developed)||2,096.34||-0.4%||19.7%||5.3%|
|MSCI AC World (Dev & Em)||510.12||-0.3%||20.9%||5.6%|
|MSCI Emerging Markets||1,132.20||0.2%||31.3%||8.6%|
|MSCI AC World Value||222.43||-0.3%||14.4%||9.5%|
|MSCI AC World Growth||275.62||-0.3%||27.8%||1.8%|
|FTSE Gilts All Stocks||3,578.91||-0.7%||1.5%||8.5%|
|FTSE Index Linked All Stocks||641.00||-1.2%||0.7%||21.2%|
|ML Sterling Corporate Bonds||399.90||-0.4%||4.9%||10.7%|
|ML Global High Yield Bonds||375.54||0.0%||9.6%||15.0%|
|Brent Crude Oil||63.80||0.6%||8.9%||23.4%|
|Consumer Goods and Services||22,129.99||0.2%||12.4%||9.6%|
|Oil & Gas||8,810.44||-0.3%||3.1%||54.2%|
|$ per £||1.34||0.2%||8.5%||-16.3%|
|€ per £||1.14||0.5%||-3.2%||-15.7%|
|¥ per £||150.64||-0.3%||4.2%||-22.7%|
|VIX Index (Volatility)||10.03||5.2%||-28.6%||-22.9%|
|Baltic Dry Index||1,547.00||-2.6%||61.0%||101.1%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.51%|
|Consumer Price Index||3.10%|
|Retail Price Index||3.90%|
|Yields / Ratios|
|FTSE 100 Adj P/E||20.45|
|FTSE All Share Adj P/E||19.85|
|FTSE All Share Yld||3.70%|
|15yr Gilt Yield||1.53%|
|10yr Gilt Yield||1.21%|
|10yr US Tres Yield||2.46%|
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