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 115 points at 16,373, the NASDAQ finished up 69 points at 4183 and the S&P 500 ended the day up 19 points at 1838.

This morning in London: The FTSE 100 is currently up 12 points at 6779.

FX and commodities: GBP/USD is down 42 pips at $1.6396, EUR/USD is down 43 pips at $1.3637 and USD/JPY is up eight pips at ¥104.28. Brent crude is down three cents at $106.20 and gold is trading at $1240, down $5.

Stocks: The latest UK housebuilder to report, Taylor Wimpey, has like all its competitors benefited from the government’s help-to-buy scheme and expects to meet full-year targets. Burberry has found currency exposure to be an issue, but nevertheless retail revenue jumped by 14% in the final quarter over the year’s end. Tullow Oil has announced further discoveries in Kenya, believed to be around the 600 million barrel mark.

The day ahead: Overnight M2 money supply levels drifted lower in China. EU trade balance figures are due for release this morning. Following the release of inflationary figures earlier in the week, Mark Carney will be speaking at the monthly Treasury committee hearing. Tonight will also see the release of the US Fed beige book after European markets have closed.

All figures correct at 8.15am. All times London time.

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