Friday morning snapshot

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

Last night in the US: The Dow Jones closed down 175 points at 16,197, the NASDAQ finished down 24 points at 4218 and the S&P 500 ended the day down 16 points at 1828.

This morning in London: The FTSE 100 is currently down seven points at 6780.

FX and commodities: GBP/USD is up 20 pips at $1.6658, EUR/USD is down 14 pips at $1.3683 and USD/JPY is down eight pips at ¥103.15. Brent crude is up 12 cents at $107.67 and gold is trading at $1258, down $5.

Stocks: Royal Mail reported a 2% increase in like-for-like sales over the nine months until the end of December.

The day ahead: Italian retail sales are due out at 9am, followed by UK mortgage approvals at 9.30am.

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

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