Traders hang fire ahead of US job market data

Trading volumes fell overnight in the US ahead of key job market data set to be released later today.

The non-farm payroll figures will give an indication of the health of the economy, and markets remained fairly flat prior to their release.

The Dow Jones closed at 10,320 last night, a rise of 0.49% or 50.63 points, while the S&P 500 was 0.91%, or 9.81 points, higher at 1,090.10.

M&A activity continued, with the BBC reporting Chinese investors were considering making a rival bid against mining giant BHP Billiton for fertiliser firm Potash. Its shares on the New York Stock Exchange closed up 2.6 points, or 1.78%, to 148.55p yesterday.

The FTSE 100 was 0.24% higher this morning, up to 5,384.18. Technology firm Autonomy was the strongest stock, rising 2.56% to £17.60 per share, while Home Retail Group was the biggest faller, down 1.08% to 219.4p.

The German Dax rose 0.37% to 6.106.53 this morning, led higher by SAP and with healthcare group Fresenius lagging with a 0.76% fall.

The French Cac 40 was 0.33% higher to 3,643.46 in early trading, with Axa the biggest gainer, up 1.47%.