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 227 points at 16,395, the NASDAQ finished up 74 points at 4351 and the S&P 500 ended the day up 28 points at 1873.

This morning in London: The FTSE 100 is currently down 14 points at 6809.

FX and commodities: GBP/USD is up eight pips at $1.6671, EUR/USD is down ten pips at $1.3732 and USD/JPY is up two pips at ¥102.23. Brent crude is down 23 cents at $109.07 and gold is trading at $1335, down $1.

Stocks: Antony Jenkins, the group chief executive of Barclays bank, has had to fight a rearguard action as he defends some of the bonuses paid out by the bank. Press speculation has increased around Warren Buffett acquiring a stake in RSA. The financial services company Legal & General has reported pre-tax profits up 10% to £1.134 billion. The motor insurance company Admiral Group has also seen its profits rise as pre-tax figures increased to £370 million.

The day ahead: This morning will see a raft of service Purchasing Managers’ Index (PMI) figures released across Europe for Spain, Italy, EU and UK. Later in the day we will also see US ADP non-farm employment change and ISM non-manufacturing PMI. In the evening the Federal Reserve beige book will be released.

All figures correct at 8.15am. 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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