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This morning in London: The FTSE 100 is currently up ten points at 6580.
FX and commodities: GBP/USD is down seven pips at $1.6401, EUR/USD is up five pips at $1.3639 and USD/JPY is down 19 pips at ¥102.14. Brent crude is down 32 cents at $109.16 and gold is trading at $1273, up $6.25.
Stocks: Questions over Vodafone’s eagerness have been answered, as the telecommunications company has bid for Ono, which covers the Spanish market. Weekend press speculation has hinted towards further job cuts at Barclays. Insurer Catlin Group has posted good full-year figures, with a 27% increase in annual profits. Political powers are increasing their rhetoric about energy suppliers, specifically gas companies, with energy secretary Ed Davey warning that profit margins are too high, and that a failure to address this could result in a number of the bigger companies being broken up. Unsurprisingly, early trading has seen both Scottish & Southern Energy and Centrica prices leading the FTSE fallers. Design and engineering consultancy Hyder Consulting has given a profit warning, as it envisages full-year figures falling below expectations.
The day ahead: Pre-market French industrial production figures have come out worse than expected, and by 9am we will also know whether the Italian figures have fared any better.
All figures correct at 8.15am. All times London time.