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 up 90 points at 15,928, the NASDAQ finished up 14 points at 4097 and the S&P 500 ended the day up 11 points at 1792.

This morning in London: The FTSE 100 is currently up 51 points at 6623.

FX and commodities: GBP/USD is down two pips at $1.6576, EUR/USD is down four pips at $1.3666 and USD/JPY is up 25 pips at ¥103.19. Brent crude is down five cents at $107.43 and gold is trading at $1251, down $4.80.

Stocks: Shell has agreed to sell a 23% stake in its Brazilian operations to Qatar Petroleum for $1 billion. Both Anglo American and Antofagasta have been boosted by good copper figures. Mulberry Group, the upmarket British fashion house, has warned that annual profits will fall well short of market expectations following a very disappointing Christmas period. In early trading the FTSE has seen a very strong start from many of the mining companies, which have been the driving force for the move higher.

The day ahead: EU M3 money supply and private loans figures will be reported this morning. Just after midday, Bank of England governor Mark Carney will be speaking. However, the main focus of the day will be tonight’s FOMC statement and any decision about tapering, which will be released after European markets are shut.

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

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This information has been prepared by IG, a trading name of IG Markets Limited and IG Markets South Africa 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. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.

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