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UK stock market morning note (September 07, 2012)

The FTSE 100 is called to open flat this morning following the rally in global equity markets yesterday and overnight after the European Central Bank President provided some relief as he outlined a bond buying plan to help countries in the euro zone. Investors will now turn their attention to the main economic event of the day which is the release of the US non-farm payrolls data at lunchtime. Before this announcement, the domestic economic focus will be on manufacturing production and producer prices figures which are both due out at 9.30am (see below). Commodity prices are mixed and on the foreign exchanges, the major currencies are little changed as markets await the US jobs data. This morning also sees the shareholder meetings for both Glencore and Xstrata on their proposed merger, otherwise it is a quieter end to the week for corporate news.

Today's Company announcements

Interserve Preferred Bidder. The company has announced it is to provide a range of support services to the three NHS Trusts of Leicester, Leicestershire and Rutland. The contract has a potential value of up to GBP300m over seven years and agreement is expected to be finalised by early December with the start of the contract following shortly after.