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 down 52 points at 15,973, the NASDAQ finished down eight points at 4060 and the S&P 500 ended the day down five points at 1802.

This morning in London: The FTSE 100 is currently up five points at 6528.

FX and commodities: GBP/USD is down 39 pips at $1.6405, EUR/USD is down six pips at $1.3754 and USD/JPY is down 26 pips at ¥102.57. Brent crude is up two cents at $109.45 and gold is trading at $1256, down $5.15.

Stocks: Vodafone has announced that it envisages the deal to sell its 45% stake in Verizon will be completed by early March. GlaxoSmithKline has announced plans to invest a further £200 million in UK infrastructure in order to take advantage of improved tax laws for companies. PZ Cussons’ first-half figures reflect a 4% rise in revenues. Carillion has announced a £500 million contract extension with BT.

The day ahead: This is a quiet day today for economic data, although we may hear further comment on last night’s US lawmakers’ plans to implement the Volker rules. Specifically, more may be said about the bullet that market-makers have dodged by being left exempt.

All figures correct at 8.30am. All times London time.

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