Investment Market Update
Asian stocks headed for a record close, buoyed by fresh all-time highs for US equities. Hong Kong’s Hang Seng Index breached the 30,000 level to climb to the highest in a decade before slipping back.
US stocks reached all-time highs and Goldman Sachs lifted its forecast for US stock gains in 2018, saying strong economic growth and tax reform will improve corporate earnings.
UK stocks closed higher as shares in EasyJet helped lift the FTSE 100 index. EasyJet said it was benefitting from other carriers' woes. Shares rose just over 5%. However Babcock was the biggest faller down 6.8%, after it warned that reviews of UK defence spending could hit its revenue growth.
- UK Prime Minister Theresa May’s crisis-hit government is looking to today's Budget as a shot at redemption to find fresh popularity with voters. But the risk is that it could be another nail in its coffin.
- Federal Reserve Chair Janet Yellen cautioned that raising interest rates too quickly risked stranding inflation below the US central bank’s 2% target and said there’d been “some hint” that expectations for future price increases may be drifting down.
|FTSE All Share||4,070.45||0.3%||5.1%||12.5%|
|FTSE Small Cap||5,762.28||0.2%||12.0%||11.0%|
|St. James's Place||1,150.00||-0.7%||13.4%||3.9%|
|Euro Stoxx 600||388.10||0.4%||7.4%||-1.2%|
|Dow Jones Ind||23,590.83||0.7%||19.4%||13.4%|
|MSCI AC Asia Pacific||171.59||0.9%||27.1%||2.3%|
|MSCI World (Developed)||2,047.15||0.6%||16.9%||5.3%|
|MSCI AC World (Dev & Em)||500.51||0.6%||18.6%||5.6%|
|MSCI Emerging Markets||1,150.98||1.3%||33.5%||8.6%|
|MSCI AC World Value||216.61||0.4%||11.4%||9.5%|
|MSCI AC World Growth||272.34||0.9%||26.3%||1.8%|
|FTSE Gilts All Stocks||3,560.79||0.2%||1.0%||8.5%|
|FTSE Index Linked All Stocks||648.02||0.2%||1.8%||21.2%|
|ML Sterling Corporate Bonds||395.88||0.2%||3.8%||10.7%|
|ML Global High Yield Bonds||374.16||0.1%||9.2%||15.0%|
|Brent Crude Oil||62.57||0.6%||6.6%||23.4%|
|Consumer Goods and Services||22,028.79||1.0%||11.9%||9.6%|
|Oil & Gas||8,544.25||0.1%||0.0%||54.2%|
|$ per £||1.32||0.0%||7.2%||-16.3%|
|€ per £||1.13||-0.1%||-4.0%||-15.7%|
|¥ per £||148.99||0.1%||3.1%||-22.7%|
|VIX Index (Volatility)||9.73||-8.6%||-30.7%||-22.9%|
|Baltic Dry Index||1,396.00||0.8%||45.3%||101.1%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.53%|
|Consumer Price Index||3.00%|
|Retail Price Index||4.00%|
|Yields / Ratios|
|FTSE 100 Adj P/E||19.86|
|FTSE All Share Adj P/E||19.44|
|FTSE All Share Yld||3.89%|
|15yr Gilt Yield||1.58%|
|10yr Gilt Yield||1.27%|
|10yr US Tres Yield||2.36%|
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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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.