Monday morning snapshot

A snapshot of the early morning's equity news and key market movements.

Friday night in the US: The Dow Jones closed down 143 points at 16,026, the NASDAQ finished down 54 points at 3999 and the S&P 500 ended the day down 17 points at 1815.

This morning in London: The FTSE 100 is currently down 18 points at 6543.

FX and commodities: GBP/USD is down seven pips at $1.6724, EUR/USD is down 44 pips at $1.3837 and USD/JPY is up two pips at ¥101.61. Brent crude is up 100 cents at $108.31 and gold is trading at $1328, up $10.25.

Stocks: Glencore Xstrata has sold its holding in its Peruvian copper mine to a Chinese consortium for $6 billion. GlaxoSmithKline’s sales tactics are under scrutiny as an investigation in Poland is now taking place. Desperate to turn around dwindling sales, Punch Taverns has brought in a corporate restructuring team. Aggreko is aiming to increase its supply to the Ivory Coast as it views it as one of the growing economies in Africa.

The day ahead: The European industrial production figures are the sole economic data release this morning. In the afternoon we will see both US monthly core and retail sales figures along with monthly business inventories. Later on in the afternoon Federal Open Market Committee member Daniel Tarullo will be speaking at the US stock exchange.

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

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IGA Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. 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. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.