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This morning in London: The FTSE 100 is currently up nine points at 6887.
FX and commodities: GBP/USD is down 20 pips at $1.6745, EUR/USD is down 23 pips at $1.3690 and USD/JPY is up 17 pips at ¥102.05. Brent crude is down 30 cents at $108.98 and gold is trading at $1302, down $2.75.
Stocks: The markets will be hearing from Carphone Warehouse and Dixons in a joint statement at 9am, where it is anticipated that they will announce a merger of the two companies. Boosted by a buoyant IPO market the London Stock Exchange has announced its profits are up by 50% for the full year. Old Mutual has seen strong quarterly figures with sales up by 24%, better than the markets had expected.
The day ahead: European inflation figures will dominate the morning’s economic releases, with attention switching to the US consumer price index and unemployment claims figures in the afternoon. Later in the day we will see the latest Philadelphia Federal Reserve manufacturing index.
All figures correct at 8.30am. All times London time.