Monday morning snapshot

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

Friday night in the US: The Dow Jones closed down 185 points at 15,451, the NASDAQ finished down 14 points at 3774 and the S&P 500 ended the day down 12 points at 1709.

This morning in London: The FTSE 100 is currently down 20 points at 6575.

FX and commodities: GBP/USD is up 27 pips at $1.6032, EUR/USD is up 13 pips at $1.3537 and USD/JPY is down 38 pips at ¥98.94. Brent crude is down eight cents at $109.21 and gold is down $1 at $1325.

Stocks: The FTSE 100’s latest reshuffle means Serco Group, Eurasian Natural Resources and John Wood Group have been relegated to the FTSE Mid 250, while Coca-Cola HBCSports Direct and Mondi have been promoted. AG Barr has posted solid first-half profit, which is particularly encouraging after the failure of its merger with Britvic.

The day ahead: Traders and investors will predominantly be focused on macro-economic data rather than corporate news today, as the results of Angela Merkel’s impressive win are digested ahead of her party’s decision on who they will form a coalition with. Meanwhile, a raft of manufacturing PMI data will no doubt give traders a fresh angle to debate when tapering will commence.

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

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