Wednesday morning snapshot

A snapshot of the early morning's equity news and key market movements.

Last night in the US: The Dow Jones closed up 100 points at 14,760, the NASDAQ finished up 27 points at 3347 and the S&P 500 closed up 14 points at 1588.

This morning in London: The FTSE 100 is currently up five points at 6106.

FX and commoditiesGBP/USD is up ten pips at $1.5431, EUR/USD is down seven pips at $1.3134 and USD/JPY is down 40 pips at Y97.40. Oil - Brent Crude is down 59 cents at $100.66 and gold is trading at $1249, down $28.

Stocks: Direct Line Insurance Group is to cut 2000 jobs.

The day ahead: In Europe, Mervyn King of the Bank of England is due to speak at 10.30am. In the US, GDP is due out at 1.30pm (all London times).

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