Investment Market Update
Asian stocks were mostly higher on Tuesday, shaking off downbeat factory readings out of China, although the Nikkei was flat, capped by weaker US shares and a stronger yen.
US stocks closed lower overnight, with profit-taking of last week's gains exacerbated by reports corporate tax-cuts will be phased in.
The FTSE 100 ended lower, as the pound strengthened against the dollar ahead of Thursday's Bank of England meeting where the central bank is expected to raise interest rates for the first time in more than a decade.
- Philip Hammond, the chancellor, has warned his cabinet colleagues he will not break his fiscal rules to increase public spending in next month’s Budget. Despite heavy pressure for Mr Hammond to loosen austerity, the chancellor’s allies say he has “no room for manoeuvre” and he fears that investors, already worried by Brexit, will be spooked if he abandons a fiscal framework adopted only a year ago.
Ryanair has said it still expects to make record annual profits this year, despite disruptions to its schedules that led it to cancel 20,000 flights. The airline said it made profits of €1.29bn in the six months to the end of September and forecast a full-year profit of up to €1.45bn.
|FTSE All Share||4,114.94||-0.1%||6.2%||12.5%|
|FTSE Small Cap||5,835.52||0.0%||13.5%||11.0%|
|St. James's Place||1,173.00||-0.3%||19.6%||3.9%|
|Euro Stoxx 600||393.91||0.1%||9.0%||-1.2%|
|Dow Jones Ind||23,348.74||-0.4%||18.1%||13.4%|
|MSCI AC Asia Pacific||168.13||0.5%||24.5%||2.3%|
|MSCI World (Developed)||2,034.59||0.0%||16.2%||5.3%|
|MSCI AC World (Dev & Em)||495.96||0.1%||17.6%||5.6%|
|MSCI Emerging Markets||1,115.53||0.5%||29.4%||8.6%|
|MSCI AC World Value||217.30||-0.1%||11.8%||9.5%|
|MSCI AC World Growth||266.73||0.2%||23.7%||1.8%|
|FTSE Gilts All Stocks||3,528.51||0.2%||0.1%||8.5%|
|FTSE Index Linked All Stocks||627.58||0.5%||-1.4%||21.2%|
|ML Sterling Corporate Bonds||394.45||0.2%||3.5%||10.7%|
|ML Global High Yield Bonds||375.44||0.2%||9.6%||15.0%|
|Brent Crude Oil||60.90||0.8%||3.7%||23.4%|
|Consumer Goods and Services||22,103.42||-1.1%||12.3%||9.6%|
|Oil & Gas||8,642.22||0.8%||1.1%||54.2%|
|$ per £||1.31||-0.5%||6.4%||-16.3%|
|€ per £||1.13||-0.3%||-3.6%||-15.7%|
|¥ per £||149.23||0.0%||3.3%||-22.7%|
|VIX Index (Volatility)||10.50||7.1%||-25.2%||-22.9%|
|Baltic Dry Index||1,546.00||0.0%||60.9%||101.1%|
|BoE Base Rate||0.25%|
|LIBOR (3 months)||0.43%|
|Consumer Price Index||3.00%|
|Retail Price Index||3.90%|
|Yields / Ratios|
|FTSE 100 Adj P/E||20.79|
|FTSE All Share Adj P/E||20.35|
|FTSE All Share Yld||3.79%|
|15yr Gilt Yield||1.67%|
|10yr Gilt Yield||1.33%|
|10yr US Tres Yield||2.37%|
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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