Wednesday 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 up five points at 17,060, the NASDAQ finished down 24 points at 4416 and the S&P 500 ended the day down three points at 1973.

This morning in London: The FTSE 100 is currently up 35 points at 6745.

FX and commodities: GBP/USD is down five pips at $1.7138, EUR/USD is down 12 pips at $1.3554 and USD/JPY is down two pips at ¥101.65. Brent crude is up 51cents at $107.67 and gold is trading at $1296, up $2.50.

Stocks: Rio Tinto has seen increased export numbers for its Australian mined iron ore heading for China. Evraz has also seen an increase in its steel exports but only fractionally. The London Stock Exchange Group reported its Q1 income increased by 16%. Backed by a strong rental market British Land has increased its dividend payments. Severn Trent is also on course to meet its full-year expectations and looks set to increase its dividend payments by as much as 5.6%.

The day ahead: A plethora of overnight Chinese data has set a positive tone to the start of the European trading. This morning will also see the latest UK unemployment figures and average earnings alongside the eurozone trade balance. This afternoon will see the latest monthly US PPI figures along with industrial production. It is day two of Janet Yellen’s testimony in front of the US House Financial Services Committee. The day will be rounded off with the release of the Federal Reserve Beige book.

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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