FTSE 100 Dec '18 (XZ18)
|Contract||FTSE 100 Index Futures|
|Tick Size||0.5 points (GBP 5.00 per contract)|
|Contract Size||GBP 10 times Index|
|Trading Months||Mar, Jun, Sep, Dec (H, M, U, Z)|
|Trading Hours||8:00a.m. - 9:00p.m. GMT|
|Value of One Futures Unit||GBP 10|
|Value of One Options Unit||GBP 10|
|Last Trading Day||Third Friday in delivery month|
World stocks - World stock markets in 2018 closed mostly lower. The MSCI World Index, a benchmark for large companies based in 23 developed countries, closed moderately lower by -10.4%, partially reversing the sharp +20.1% gain seen in 2017. World stocks fell sharply in late 2018 due to trade tensions and the Federal Reserve's hawkish monetary policy that produced the fourth interest rate hike of the year in December.
Small-Capitalization Stocks - The MSCI World Small-Cap Index, which tracks companies with market caps between $200 million and $1.5 billion, fell by -15.2% in 2018, reversing part of the +20.9% gain seen in 2017. The -15.2% decline in the MSCI World Small-Cap Index in 2018 was 4.7 percentage points worse than the -10.4% decline in the large-cap MSCI World Index. Small caps in 2018 under-performed large caps, breaking the string of three consecutive years of out-performance.
World Industry Groups - Nine of the ten MSCI industry groups showed declines in 2018 as the world stock markets were generally weak. The Health Care sector rose +1.0% and was the only sector with a gain. The Utilities (-1.0%) and Information Technology (-3.5%) sectors showed small declines. Consumer Discretionary showed a decline of -6.8%. The other five sectors showed double-digit declines: Consumer Staples (-12.1%), Telecom (-13.3%), Industrials (-16.0%), Energy (-18.2%), and Materials (-18.8%).
Emerging markets - The MSCI Emerging Markets Free Index, which tracks companies based in 26 emerging countries, fell by -16.6% in 2018, reversing about one-half of 2017's gain of +34.3%. The emerging markets fell in 2018 on the overall downward correction seen in global stocks in Q4-2018 and fell by more than the -10.4% decline seen in the MSCI World Index.
G7 - The G7 stock markets in 2018 were weak and all showed declines. The U.S. S&P 500 index showed the smallest decline but still fell by -6.2% due to trade tensions and the Federal Reserve's hawkish monetary policy during 2018. The European stock markets were weak due to slower Eurozone economic growth and Brexit concerns with the French CAC-40 index falling by -11.0%, the UK FTSE 100 falling by -12.5%, the German Dax index falling by -18.3%, and the Italian MIB index falling by -16.1%. Canada's Toronto Composite Index fell by -11.6% on carry-over weakness from the U.S. stock market and the sharp drop in crude oil prices seen in late 2018. Japan's Nikkei index fell -12.1% in 2018 due to trade tensions and carry-over weakness from China.
North America - In North America, the U.S. S&P 500 index in 2018 showed the smallest decline of -6.2% due to trade tensions and the Fed's four interest rate hikes in 2018. Canada's Toronto Composite index fell by -11.6% in 2018 due to NAFTA trade tensions early in the year and a sharp drop in oil prices later in the year. Mexico's Bolsa index fell by -15.6% on trade tensions and political uncertainty as a new Mexican president took power.
Latin America - The Latin American stock markets in 2018 closed mixed with downward pressure from the sharp sell-off seen in global stocks in late 2018. The ranked returns are as follows: Jamaica's Stock Exchange Index +31.7%, Venezuela's Stock Market Index +27.1%, Brazil's Bovespa Index +15.0%, Ecuador's Guayaqui Bolsa Index +9.2%, Argentina's Merval Index +0.8%, Columbia's General Index -2.9%, Peru's Lima General Index -3.1%, Chile's Stock Market Select Index -8.3%.
Europe - European stocks in 2018 performed poorly due to the weak Eurozone economy, the conclusion of the European Central Bank's bond-buying program at the end of 2018, and concerns about Brexit. The Euro Stoxx 50 index in 2018 fell by -13.1%, more than reversing the +5.6% gain seen in 2017. The ranked returns in 2018 were as follows: French CAC 40 index -11.0%, UK FTSE 100 index -12.5%, Spanish IBEX 35 index -15.0%, Italian MIB index -16.1%, and German DAX index -18.3%.
Asia - The Asian stock markets in 2018 closed mostly lower. The MSCI Far East Index in 2018 fell by -11.8%, breaking the string of three consecutive annual gains. The ranked returns for the Asian stock markets in 2018 were as follows: India's Mumbai Sensex 30 index +5.9%, New Zealand's Exchange 50 Index +4.9%, Indonesia's Jakarta Composite Index -2.5%, Malaysia's Kuala Lumpur Composite index -5.9%, Australia's All-Ordinaries Index -7.4%, Pakistan's 100 Index -8.4%, Taiwan's TAIEX Index -8.6%, Vietnam's Stock Index -9.3%, Singapore's Straights Times Index -9.8%, Thailand's Stock Exchange index -10.8%, Japan's Nikkei 225 Index -12.1%, Philippines' Composite index -12.8%, Hong Kong's Hang Seng -13.6%, South Korea's Composite Index -17.3%, China's Shanghai Composite Index -24.6%.
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