Thursday 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 149 points at 14,910, the NASDAQ finished up 28 points at 3376 and the S&P 500 ended the day up 15 points at 1603.

This morning in London: The FTSE 100 is currently up 20 points at 6186.

FX and commoditiesGBP/USD is down four pips at $1.5309, EUR/USD is up eight pips at $1.3020 and USD/JPY is up 57 pips at Y98.30. Olie - Brent Crude is up 20 cents at $95.69 and gold is up $7.80 at $1237.

Latest news: Once again global equity markets were given a boost by bad US GDP figures, and also by the ECB trying to drum up stimulus packages from the independent countries in the EU.  This reverse mentality can’t last for ever, and ultimately equity markets will have to learn to stand on their own two feet. Until this happens volumes will remain low and volatility high. 

Stocks: Spain is once again the source of troubles for International Consolidated Airlines, although this time the cause is not Iberia but Bankia, a Spanish bank that has been forced into selling its 12.1% holding in the company in order to raise funds. Debenhams continues to paint a disappointing picture for the UK high streets with weak sales figures. With a constant flow of negative news, and a further £11.5 billion of government spending being cut, it is no wonder the country is turning to drink. Greene King has seen final profits up 6.6% and reports a strong start to 2013.

The day ahead: UK final GDP and current account is due at 9.30am, followed at 1.30pm by US unemployment claims and personal spending/income, and later in the afternoon, at 3pm, monthly pending home sales. All figures as at 8.30am (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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