Tuesday morning snapshot

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

A bus passing the Bank of England
Source: Bloomberg

Last night in the US: The Dow Jones closed down nine points at 16,937, the NASDAQ finished flat at 4368 and the S&P 500 ended the day flat at 1962.

This morning in London: The FTSE 100 is currently up 18 points at 6818.

FX and commodities: GBP/USD is down three pips at $1.7023, EUR/USD is up five pips at $1.3608 and USD/JPY is up two pips at ¥101.95. Brent crude is down 28 cents at $113.78 and gold is trading at $1316, down $1.

Stocks: The second quarter is looking to be a tough one for Croda, as the company has stated that it expects its profits to come in 8% below previous expectations. Africa Oil, Tullow Oil’s Kenyan partner, claims to have found oil in its northern ventures. Petrofac currently has a record backlog of its order book, with some $20 billion worth of business and is confident of meeting its full-year targets. Iron ore price action has seen BHP Billiton announce that it will be cutting jobs at its Australian operation. Carpetright’s problems continue with another profits warning that full-year targets are likely to be 50% lower of current expectations.

The day ahead: The UK monthly inflation report, along with mortgage approvals, is expected today. In the early afternoon, Federal Open Market Committee voting member Charles Plosser will be doing a Q&A session at the New York economic club. Later in the day we will also see the latest US Conference Board consumer confidence figures and US home sales.

All figures correct at 8.05am. All times London time.

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