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.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. 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. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.