Thursday 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 101 points at 16,613, the NASDAQ finished down 29 points at 4100 and the S&P 500 ended the day down eight points at 1888.

This morning in London: The FTSE 100 is currently up nine points at 6887.

FX and commodities: GBP/USD is down 20 pips at $1.6745, EUR/USD is down 23 pips at $1.3690 and USD/JPY is up 17 pips at ¥102.05. Brent crude is down 30 cents at $108.98 and gold is trading at $1302, down $2.75.

Stocks: The markets will be hearing from Carphone Warehouse and Dixons in a joint statement at 9am, where it is anticipated that they will announce a merger of the two companies. Boosted by a buoyant IPO market the London Stock Exchange has announced its profits are up by 50% for the full year. Old Mutual has seen strong quarterly figures with sales up by 24%, better than the markets had expected.

The day ahead: European inflation figures will dominate the morning’s economic releases, with attention switching to the US consumer price index and unemployment claims figures in the afternoon. Later in the day we will see the latest Philadelphia Federal Reserve manufacturing index.

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.