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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 down 137 points at 16,374, the NASDAQ finished down 29 points at 4096 and the S&P 500 ended the day down 12 points at 1872.

This morning in London: The FTSE 100 is currently down 18 points at 6783.

FX and commodities: GBP/USD is up nine pips at $1.6846, EUR/USD is up 17 pips at $1.3718 and USD/JPY is down 38 pips at ¥100.95. Brent crude is down three cents at $106.20 and gold is trading at $1293, down $1.

Stocks: Luxury goods retailer Burberry has met market expectations by posting an 8% increase in its annual profits, but markets will be more concerned with what lays ahead in the management change and the cooling Chinese economy. SSE has posted better-than-expected full-year figures with pretax profits up by 9.6%. Although it is news that will be welcomed by shareholders, it will no doubt annoy some members of the public.

The day ahead: UK monthly retail sales figures are released this morning, and we will also get to see how the Monetary Policy Committee members voted in the last bank rate setting meeting. In an equally busy afternoon we will hear from Charles Dudley and Federal Reserve chair Janet Yellen, along with seeing the minutes from the last Federal Open Market Committee meeting.

All figures correct at 8.15am. All times London time.

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