Wednesday morning snapshot

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

A bus passes the Bank of England
Source: Bloomberg

Last night in the US: The Dow Jones closed up 129 points at 16,956, the NASDAQ finished up 50 points at 4458 and the S&P 500 ended the day up 13 points at 1973.

This morning in London: The FTSE 100 is currently up 11 points at 6814.

FX and commodities: GBP/USD is up two pips at $1.7149, EUR/USD is down five pips at $1.3673 and USD/JPY is down three pips at ¥101.50. Brent crude is up three cents at $112.32 and gold is trading at $1325, down $1.

Stocks: The UK housebuilder Persimmon has posted strong first-half figures with revenue up by 33%. It looks like British Gas could be in store to finance another raft of compensation claims following misrepresentation of potential savings claims. Tullow Oil has announced a sizeable write down of $415 million after broadly unsuccessful drilling operations. Dividend payments from the likes of British Land, Burberry, Royal Mail and Babcock International will take a couple of points out of the market.

The day ahead: Monthly house price index figures from Nationwide showed an increase of 1%. The UK construction PMI is due out this morning along with final GDP figures for the eurozone. This afternoon will see the US Federal Reserve chair Janet Yellen speaking, as well as crude oil inventories and ADP non-farm employment changes.

All figures correct at 8.15am. 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.