Investment Market Update
Asian stocks climbed to record highs amid optimism on corporate earnings, following an end to the US government shutdown. The yen rose after the Bank of Japan used more positive language on inflation expectations in today’s policy statement, though the move faded ahead of a press briefing by Governor Haruhiko Kuroda.
US stocks closed higher as congress broke their deadlock to end the three-day government shutdown and helped send Wall Street to fresh record highs.
UK stocks closed lower with the FTSE 100 down 0.2%. The biggest faller was Paddy Power Betfair, which like other gaming companies was affected by reports that the maximum stake on fixed-odds betting terminals would fall.
- President Donald Trump slapped tariffs on imported solar panels and washing machines, angering trade partners as he took his first major protectionist move a year into his term. The US will impose new duties of as much as 30% on foreign-made solar equipment. The president also approved tariffs starting as high as 50% on imported washing machines. China and South Korea condemned the steps, with the Ministry of Commerce in Beijing calling them a “misuse” of trade measures.
- ITV Plc topped a list of the most likely European acquisition targets for a second year running, showing that expectations of a takeover haven’t faded after a tough 2017. The UK broadcaster appeared on the mergers and acquisition watch lists of seven out of 20 event-driven traders. That put it equal at the top of the rankings with Aeroports de Paris.
|FTSE All Share||4,233.55||-0.2%||0.3%||9.0%|
|FTSE Small Cap||5,985.73||-0.2%||1.2%||14.9%|
|St. James's Place||1,251.50||-1.5%||2.1%||20.9%|
|Euro Stoxx 600||402.11||0.3%||3.3%||7.7%|
|Dow Jones Ind||26,214.60||0.5%||6.0%||25.1%|
|MSCI AC Asia Pacific||183.91||0.2%||5.8%||28.7%|
|MSCI World (Developed)||2,221.01||0.6%||5.6%||20.1%|
|MSCI AC World (Dev & Em)||542.50||0.6%||5.7%||21.6%|
|MSCI Emerging Markets||1,238.50||0.5%||6.9%||34.2%|
|MSCI AC World Value||235.65||0.7%||5.2%||15.2%|
|MSCI AC World Growth||294.20||0.5%||6.3%||28.3%|
|FTSE Gilts All Stocks||3,546.58||-0.2%||-1.2%||3.0%|
|FTSE Index Linked All Stocks||638.64||-0.2%||-1.4%||2.3%|
|ML Sterling Corporate Bonds||400.44||0.0%||-0.1%||5.7%|
|ML Global High Yield Bonds||381.53||0.1%||1.1%||9.7%|
|Brent Crude Oil||69.03||0.6%||3.2%||14.5%|
|Consumer Goods and Services||21,967.77||-0.8%||-1.8%||13.6%|
|Oil & Gas||9,153.89||0.6%||1.0%||6.0%|
|$ per £||1.39||-0.7%||2.6%||9.5%|
|€ per £||1.13||-0.5%||0.7%||-4.0%|
|¥ per £||153.48||-1.1%||0.8%||5.3%|
|VIX Index (Volatility)||11.03||-2.1%||-0.1%||-21.4%|
|Baltic Dry Index||1,129.00||0.4%||-17.3%||42.1%|
|BoE Base Rate||0.50%|
|LIBOR (3 months)||0.52%|
|Consumer Price Index||3.00%|
|Retail Price Index||4.10%|
|Yields / Ratios|
|FTSE 100 Adj P/E||20.89|
|FTSE All Share Adj P/E||20.25|
|FTSE All Share Yld||3.78%|
|15yr Gilt Yield||1.64%|
|10yr Gilt Yield||1.36%|
|10yr US Tres Yield||2.65%|
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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