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 65 points at 16,514, the NASDAQ finished up 28 points at 3588 and the S&P 500 ended the day up seven points at 1879.

This morning in London: The FTSE 100 is currently up four points at 6685.

FX and commodities: GBP/USD is down 22 pips at $1.6801, EUR/USD is down three pips at $1.3801 and USD/JPY is down ten pips at ¥102.51. Brent crude is up 14 cents at $109.35 and gold is trading at $1285, up $1.

Stocks: Associated British Foods reported a 4% increase in its six-month profits. British semiconductor and software company ARM Holdings posted a 20% rise in its first-quarter net income.

The day ahead: The eurozone manufacturing purchasing managers index (PMI) is expected at 9am, followed by the Bank of England minutes at 9.30am. Later in the morning, the UK Confederation of British Industry industrial order expectations are due out at 11am.

In the US, the manufacturing PMI will be released at 2.45pm, followed by new home sales 3pm.

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

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