Market Monitor – December 2016

January 11th, 2017, by Georgina Ogilvie-Jones

2016 was a mixed year for global equity markets and many were surprised with the resilience shown after the UK EU Referendum and the US presidential election result. In local currency terms, US and UK markets are significantly ahead of where they started with total returns of 19% for the FTSE 100 and 11% for the S&P 500. Europe, which faces a series of major elections in 2017, has seen more modest returns with the FTSE World Europe ex UK index gaining 3.4%. Japan foundered in Yen terms and the FTSE Japan index made a modest loss of 0.28%. The FTSE World Asia Pacific ex Japan and FTSE Emerging Markets indices made gains of 11% and 12% respectively for 2016 as a whole. These markets were adversely by external events such as the US election result and the possible implications for trade and the Federal Reserve interest rate increase in the final few months of the year though.

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