[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-203207-105":59,"doc-detail-203207-en":131},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":124,"head_meta":126,"extra_data":128,"updated_unix":130},105,"en","market-price-monitor-2025-london-market-update","Market Price Monitor - 2025 London Market Update","","Market Price Monitor summarizes November movements across global and UK-focused capital markets, highlighting mixed equity performance, currency shifts in GBP, and relatively flat bond index behavior. It also outlines Solvency II solvency risk-free rates and discount rate changes, including Smith-Wilson extrapolation and credit risk adjustment methodology, plus EIOPA fundamental spread concepts. The report further tracks UK inflation indicators, detailing CPI and RPI declines alongside average earnings changes and supporting ONS attribution notes.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/market-price-monitor-2025-london-market-update/203207/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/market-price-monitor-2025-london-market-update/203207.png","ImageObject",300,407,{"name":92,"@type":93},"Putri","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-30","2026-09-04",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",13,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What drove uncertainty in global equity markets during November?","Question",{"text":113,"@type":114},"The longest US government shutdown delayed key economic data releases, increasing uncertainty. Concerns about stretched tech and AI valuations also weighed on risk sentiment.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"How are Solvency II risk-free discount rates calculated in the report?",{"text":118,"@type":114},"They are calculated independently by applying Smith-Wilson Extrapolation to Bloomberg swap rates and then applying the credit risk adjustment defined in the technical specifications.",{"name":120,"@type":111,"acceptedAnswer":121},"What happened to UK inflation measures in October?",{"text":122,"@type":114},"UK CPI fell by 20 basis points to 3.6%, and UK RPI declined by 20 basis points to 4.3% according to the ONS.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},203207,1788556840,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":24,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":130,"read_time":105,"preview_page_count":4},962085571259,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","Market Price Monitor  \nLocal Equity Markets  \n• Global equity markets delivered a mixed performance in November. The longest US government shutdown in history delayed the release of key economic data, creating uncertainty around the outlook for the world’s largest economy. At the same time, concerns over stretched tech and AI valuations weighed further on risk sentiment.  \n• Euro Stoxx 50 ended the month up 0.3% .  \n• The FTSE 100 gained 0.4% .  \nGlobal Equity Markets  \n• The S&P 500 was up 0.2% and the Japanese Topix returned 1.4% .  \n• Conversely, the MSCI Emerging Markets index lost 2 .4% .  \nBond/FX Markets  \n• Both British government and corporate bond indices ended the month relatively flat.  \n• The British Pound had a positive performance in November, gaining 2.0% and 0.6% against the Japanese Yen and the US Dollar, respectively.  \nLocal Equity Markets: 2025 YTD Total Return %  \n30%  \n20%  \n10%  \n0%  \n-10%  \n31-Dec 28-Feb 30-Apr 30-Jun 31-Aug 31-Oct FTSE 100 Euro Stoxx 50 FTSE All Share  \nBonds (Barclays Agg. Indices): 2025 YTD % ∆  \n15%  \n10%  \n5%  \n0%  \n-5%  \n31-Dec 28-Feb 30-Apr 30-Jun 31-Aug 31-Oct £ Govt £ Corp Global Corp  \n40%  \n20%  \n0%  \n-20%  \n~~ ~~Global~~ ~~Equity~~ ~~Markets~~%~~:~~ ~~2025~~ ~~YTD~~ ~~Total~~ ~~Return~~ ~~  \n31-Dec 28-Feb 30-Apr 30-Jun 31-Aug 31-Oct  US (S&P)  Japan (Topix)  Em/Mkts (MSCI)  \n10%  Foreign Currencies in GBP: 2025 YTD % ∆   \n31-Dec 28-Feb 30-Apr 30-Jun 31-Aug 31-Oct  EUR in GBP  USD in GBP  JPY in GBP  \n\n| Total Returns as of November 28, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| FTSE 100 |  | FTSE All\u003Cbr>Share | Euro\u003Cbr>Stoxx 50 | US (S&P) | Japan\u003Cbr>(Topix) | Em/Mkts\u003Cbr>(MSCI) | £ Govt | £ Corp | Global\u003Cbr>Corp | EUR in\u003Cbr>GBP | USD in\u003Cbr>GBP | JPY in\u003Cbr>GBP |\n| 1 Month | 0.4% | 0.4% | 0.3% | 0.2% | 1.4% | -2.4% | 0.1% | 0.1% | 0.5% | -0.1% | -0.6% | -2.0% |\n| 3 Month | 6.4% | 6.0% | 6.3% | 6.3% | 10.9% | 9.0% | 3.7% | 3.2% | 1.7% | 1.3% | 2.0% | -3.9% |\n| 1 Year | 21.5% | 20.0% | 21.7% | 15.0% | 29.2% | 30.3% | 2.1% | 6.1% | 7.8% | 5.5% | -3.8% | -7.7% |\n| YTD | 23.0% | 21.4% | 19.4% | 17.8% | 24.2% | 30.4% | 4.8% | 6.7% | 10.0% | 6.0% | -5.4% | -4.7% |\n\nInsurance Monitor  \nSolvency II Risk Free Rates  \n• GBP risk-free rates rose at most terms, except for the 1-year rate which fell by 6 basis points.  \n• The 30, 20 and 10-year GBP risk-free rates all rose by 3 basis points.  \n• EUR risk-free rates rose at all tenors in November, with the moves more pronounced at the long-end of the curve.  \n• The 20 and 30-year EUR risk-free rates rose by 17 and 20 basis points, respectively.  \nThe Solvency II risk-free discount rates are calculated independently based on applying the SmithWilson Extrapolation to swap rates sourced from Bloomberg and applying the Credit Risk Adjustment as defined in the Technical Specs. For the official published curves please refer to EIOPA and PRA websites.  \nSolvency II Fundamental Spreads  \n• There were no material changes since the start of the year.  \nEIOPA fundamental spreads show the credit spread corresponding to the risk of default or downgrading of an asset. This is shown here across financial and nonfinancial assets, credit quality steps 0-3 and durations of 1-30 years. The data is provided by EIOPA. Fundamental spread = maximum (probability of default + cost of downgrade; 35% of long-term average spread) . For fundamental spreads on other tenors please refer to the EIOPA website.  \n6.00% ~~ Solvency II Discount Rates~~-~~GBP ~~  \n4.00%   \n2.00% ~~ ~~  \n0.00% ~~ ~~  \n1 4 7 10 13 16 19 22 25 28 31 34 37 40  GBP-Nov 28, 2025  GBP-Q3 2025  \n~~ ~~ GBP-Q2 2025  GBP-Q1 2025  \n~~ ~~ GBP-Q4 2024  \n4.00%  \n3.00%  \n2.00%  \n1.00%  \n0.00%  \nSolvency II Discount Rates-EUR  \n1 4 7 10 13 16 19 22 25 28 31 34 37 40  \n EUR-Nov 28, 2025  EUR-Q3 2025  \n~~ ~~ EUR-Q2 2025  EUR-Q1 2025  \n~~ ~~ EUR-Q4 2024  \nGBP Financial Fundamental Spreads  \n1.50% ~~ ~~  \nAAA AA A BBB  \n 5 Yr-Oct 31, ","cbCaiuL61H26IABO","https://ap.wps.com/l/cbCaiuL61H26IABO","pdf",381656,"English","# Market Price Monitor\n## Local Equity Markets\n## Global Equity Markets\n## Bond/FX Markets\n# Insurance Monitor\n## Solvency II Risk Free Rates\n## Solvency II Fundamental Spreads\n# UK Inflation Monitor","[{\"question\":\"What drove uncertainty in global equity markets during November?\",\"answer\":\"The longest US government shutdown delayed key economic data releases, increasing uncertainty. Concerns about stretched tech and AI valuations also weighed on risk sentiment.\"},{\"question\":\"How are Solvency II risk-free discount rates calculated in the report?\",\"answer\":\"They are calculated independently by applying Smith-Wilson Extrapolation to Bloomberg swap rates and then applying the credit risk adjustment defined in the technical specifications.\"},{\"question\":\"What happened to UK inflation measures in October?\",\"answer\":\"UK CPI fell by 20 basis points to 3.6%, and UK RPI declined by 20 basis points to 4.3% according to the ONS.\"}]","Market Price Monitor - 2025 London Market Update | PDF"]