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 34 points at 15,529, the NASDAQ finished up 27 points at 3745 and the S&P 500 ended the day up seven points at 1704.

This morning in London: The FTSE 100 is currently down 22 points at 6424.

FX and commodities: GBP/USD is up 12 pips at $1.5916, EUR/USD is down one pip at $1.3360 and USD/JPY is up three pips at ¥99.16. Brent crude is up 11 cents at $108.23 and gold is trading at $1303, down $7.

Stocks: Homebuilder Redrow revealed a 63% increase in full-year pre-tax profit. Iron-ore producer Ferexpo has acquired a 14% stake in Ferrous Resources for $80 million.

The day ahead: The Bank of England’s official interest-rate vote will be announced at 9.30am. In the US, building permits and housing starts are due at 1.30pm. The Federal Reserve will make an announcement at 7pm.

All figures correct at 8.30am. All times London time.

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