Investment Market Update
Asian equities followed Wall Street’s positive overnight lead, as the Japanese yen dipped back to a six-week low. Investors remained bullish ahead of today’s monetary policy decision from the European Central Bank.
US stocks advanced, pushing to fresh records, as quarterly results from Microsoft Corp. and Morgan Stanley spurred optimism that corporate earnings can support further gains.
UK stocks advanced, capping its longest winning streak in three weeks, boosted by gains in lenders.HSBC Holdings Plc, which has the heaviest weighting on the benchmark, followed European lenders higher, up 1.7%. Standard Chartered Plc and Royal Bank of Scotland Group Plc rose more than 2%.
- Angela Merkel, German chancellor, has offered Theresa May some breathing space in preparing her negotiating stance for Brexit, telling the British prime minister to take her time but adding: “Nobody wants things to be up in the air.”
- Mario Draghi may have longed, just once, to have a quiet monetary-policy meeting before the summer break. Britain’s vote four weeks ago to leave the European Union will loom large when the European Central Bank president addresses reporters in Frankfurt today, after a meeting of the Governing Council. While action isn’t seen as likely straight away, he might signal more stimulus to be deployed when fresh economic forecasts are available at the next decision in September.
|FTSE All Share||3644.05||0.50%||5.80%||-2.50%|
|FTSE Small Cap||4670.44||0.20%||0.77%||6.16%|
|St. James's Place||898||4.50%||-10.90%||27.10%|
|Euro Stoxx 600||340.81||1.00%||-6.80%||6.80%|
|Dow Jones Ind||18595.03||0.20%||6.70%||-2.20%|
|MSCI AC Asia Pacific||3044.58||0.60%||-14.00%||12.90%|
|MSCI World (Developed)||1707.32||0.50%||2.70%||-2.70%|
|MSCI AC World (Dev & Em)||412.82||0.50%||3.40%||-4.30%|
|MSCI Emerging Markets||870.76||0.30%||9.60%||-17.00%|
|MSCI AC World Value||183.8936||0.40%||3.59%||-8.65%|
|MSCI AC World Growth||218.47||0.60%||3.16%||0.19%|
|FTSE Gilts All Stocks||3575.56||-0.40%||11.69%||0.57%|
|FTSE Index Linked All Stocks||589.89||-1.10%||14.31%||-1.81%|
|ML Sterling Corporate Bonds||378.6916||-0.20%||11.16%||0.53%|
|ML Global High Yield Bonds||331.3512||0.10%||11.03%||-4.17%|
|Brent Crude Oil||47.17||1.10%||11.50%||-39.30%|
|Consumer Goods and Services||20399.68||0.40%||11.47%||13.14%|
|Oil & Gas||7716.481||-0.40%||35.50%||-20.67%|
|$ per £||1.319||0.50%||-10.10%||-5.40%|
|€ per £||1.198||0.60%||-11.50%||5.30%|
|¥ per £||140.684||1.10%||-19.90%||-5.20%|
|VIX Index (Volatility)||11.77||0.00%||-33.88%||9.53%|
|Baltic Dry Index||736||-1.30%||53.97%||-38.87%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.53%|
|Consumer Price Index||0.50%|
|Retail Price Index||1.60%|
|Yields / Ratios|
|FTSE 100 Adj P/E||21.27|
|FTSE All Share Adj P/E||19.76|
|FTSE All Share Yld||3.77%|
|15yr Gilt Yield||1.40%|
|10yr Gilt Yield||0.84%|
|10yr US Tres Yield||1.58%|
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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