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 90 points at 15,928, the NASDAQ finished up 14 points at 4097 and the S&P 500 ended the day up 11 points at 1792.

This morning in London: The FTSE 100 is currently up 51 points at 6623.

FX and commodities: GBP/USD is down two pips at $1.6576, EUR/USD is down four pips at $1.3666 and USD/JPY is up 25 pips at ¥103.19. Brent crude is down five cents at $107.43 and gold is trading at $1251, down $4.80.

Stocks: Shell has agreed to sell a 23% stake in its Brazilian operations to Qatar Petroleum for $1 billion. Both Anglo American and Antofagasta have been boosted by good copper figures. Mulberry Group, the upmarket British fashion house, has warned that annual profits will fall well short of market expectations following a very disappointing Christmas period. In early trading the FTSE has seen a very strong start from many of the mining companies, which have been the driving force for the move higher.

The day ahead: EU M3 money supply and private loans figures will be reported this morning. Just after midday, Bank of England governor Mark Carney will be speaking. However, the main focus of the day will be tonight’s FOMC statement and any decision about tapering, which will be released after European markets are shut.

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

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