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.

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