Monday morning snapshot

A snapshot of the early morning’s equity news and key markets movements.

Friday’s US close: The Dow closed 30 points lower at 15,081, the NASDAQ finished down three points at 3602 and the S&P 500 ended the day five points weaker at 1655.

FX and commodities updateGBP/USD is four pips higher at $1.5630; EUR/USD is five pips lower at $1.3323; USD/JPY is up 13 pips at ¥97.66. Oil - Brent Crude is down 26 cents at $110.16, and Gold is up $4 at $1375.

This morning in London: The FTSE 100 is down 16 points at 6483.

Latest news: With the summer holiday season continuing the FTSE has the feel of a market that is driving on autopilot in early trading. Across Europe there is a mild sell-off following the trend set by Asian markets, without the enthusiasm of the ’buy on dip’ traders who still appear to be sunning themselves on the beach. With limited economic or corporate news to guide them, European indices look set to continue drifting.

Stocks: Bovis Homes has reported an excellent first half with profit up 50% to £20.4 million, and the housebuilder is optimistic this form will continue until year-end. Amlin has seen its first-half figures fair less well, with a 12% drop in profit to £161.4 million, although the UK-based insurer has still felt able to raise its dividend by 4%.

The day ahead: On a very thin day of economic data the Confederation of British Industry has altered its outlook for UK growth, raising its 2013 outlook from 1% to 1.2%. All figures as at 8.30am (London time).

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