Tuesday morning snapshot

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

A bus passing the Bank of England
Source: Bloomberg

Last night in the US: The Dow Jones closed down nine points at 16,937, the NASDAQ finished flat at 4368 and the S&P 500 ended the day flat at 1962.

This morning in London: The FTSE 100 is currently up 18 points at 6818.

FX and commodities: GBP/USD is down three pips at $1.7023, EUR/USD is up five pips at $1.3608 and USD/JPY is up two pips at ¥101.95. Brent crude is down 28 cents at $113.78 and gold is trading at $1316, down $1.

Stocks: The second quarter is looking to be a tough one for Croda, as the company has stated that it expects its profits to come in 8% below previous expectations. Africa Oil, Tullow Oil’s Kenyan partner, claims to have found oil in its northern ventures. Petrofac currently has a record backlog of its order book, with some $20 billion worth of business and is confident of meeting its full-year targets. Iron ore price action has seen BHP Billiton announce that it will be cutting jobs at its Australian operation. Carpetright’s problems continue with another profits warning that full-year targets are likely to be 50% lower of current expectations.

The day ahead: The UK monthly inflation report, along with mortgage approvals, is expected today. In the early afternoon, Federal Open Market Committee voting member Charles Plosser will be doing a Q&A session at the New York economic club. Later in the day we will also see the latest US Conference Board consumer confidence figures and US home sales.

All figures correct at 8.05am. All times London time.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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