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Weekly Investment News 16 October 2017

More news items coming soon.

Posted on: 17 Oct 2017

Week in Review

 

  • US equities continued to hit record highs, with incremental moves higher over the course of the week. Retail Sales data saw a monthly increase of 1.6% in September, which represents the biggest one month increase in over two years. The University of Michigan consumer sentiment survey also saw a solid gain, with the September reading rising to a 13 year high.
  • Macro factors remained supportive this week with higher oil prices and no surprises from the latest Fed minutes contributing to a ‘risk-on’ attitude. The euro currency also strengthened following more reconciliatory tones emanating from Catalonia.
  • Eurozone growth saw a bullish upgrade from the IMF’s latest World Economic Outlook, with growth now expected to come in at over 2% for 2017. This was however, somewhat tempered by a downgrade to UK prospects, which it noted were ‘a notable exception’ to an improving global economic outlook. 
  •  
  Index

1 Week Return

15.09.17 to 11.09.17

Year to date Return

31.12.16 to 22.09.17

   

Local Currency %

Euro %

Local Currency %

Euro %

Global (euro) FTSE World (total return) 0.0% 0.0% 6.2% 6.2%
US S&P 500 0.2% -0.6% 14.0% 1.7%
Europe

FTSE Europe Ex. U.K.

0.3% 0.3% 11.2% 11.2%
Ireland ISEQ -0.3% -0.3% 4.9% 4.9%
UK FTSE 100 0.2% 1.1% 5.5% 1.3%
Japan Topix 1.3% 1.2% 12.5% 4.6%
Hong Kong Hang Seng 0.1% -0.8% 29.4% 14.6%
Bonds Merrill Lynch Euro over 5 0.8% 0.8% -0.3% -0.3%

 

The global index in euro terms was flat last week, as a stronger euro weighed on Irish investors. Gold gained 2.2% over the period whilst copper was up an impressive 3.5%. Oil continued its recent upward trend, returning 4.4% whilst closing above $51 per barrel. The influential US ten year bond yield moved to 2.27% from 2.25%, as a ‘risk on’ environment prevailed. The German equivalent stood at 0.40% from 0.45% a week ago and the EUR/USD rate closed at 1.18.

 

The Week Ahead

 

Tuesday 17 October Wednesday 18 October Friday 20 October
Inflation figures for September for both the UK and Eurozone go to print, with the year-on-year readings expected at 3.0% and 1.5% respectively. The big overnight focus on Wednesday will be the opening speech from President Ji at the opening of the 19th Chinese Communist Party Conference Brexit talks will be firmly in focus as The European Council meets in Brussels.

 

Brosnan Boylan Golden Ltd, 128 Bank Place, Mallow, Co. Cork. is regulated by the Central Bank of Ireland.

Brosnan Boylan Golden Ltd trading as Farm First Insurance is regulated by The Central Bank of Ireland.

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