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 34 points at 15,529, the NASDAQ finished up 27 points at 3745 and the S&P 500 ended the day up seven points at 1704.

This morning in London: The FTSE 100 is currently down 22 points at 6424.

FX and commodities: GBP/USD is up 12 pips at $1.5916, EUR/USD is down one pip at $1.3360 and USD/JPY is up three pips at ¥99.16. Brent crude is up 11 cents at $108.23 and gold is trading at $1303, down $7.

Stocks: Homebuilder Redrow revealed a 63% increase in full-year pre-tax profit. Iron-ore producer Ferexpo has acquired a 14% stake in Ferrous Resources for $80 million.

The day ahead: The Bank of England’s official interest-rate vote will be announced at 9.30am. In the US, building permits and housing starts are due at 1.30pm. The Federal Reserve will make an announcement at 7pm.

All figures correct at 8.30am. 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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