London pre-open: Waiting on US jobs data

On what looks likely to be a quiet day for UK corporate news traders are focused on the US where September's non-farm payrolls numbers are due to be released this afternoon. Expectations are for a 5,000 increase in non-farm payrolls, while the unemployment rate is expected to nudge up to 9.7% from 9.6% in August. Until those numbers are confirmed, however, traders seem inclined to sit on their hands. City sources think the FTSE 100 will open virtually unchanged.Holiday company Thomas Cook and the Co-operative Group are merging their high street travel agents and foreign exchange businesses. Today's move creates Britain's largest high street travel network with over 1,200 shops - 803 Thomas Cook and 401 Co-op - and result in savings of over £35m a year.Mobile phone networks operator Vodafone has snapped up two telecom expense management firms: US company TnT Expense and Australian firm Quickcomm. The former has gross assets of $2.8m and the latter $6.9m.Residential property firm Grainger said the preliminary valuation of its UK residential portfolio indicates a year on year increase in vacant possession values of 4.5% compared to increases of 2.5% and 3.1% in the Halifax and Nationwide indices respectively.Tool and machinery hire firm Speedy Hire will take a £1.7m bad debt charge after the the collapse of social housing group Connaught, which was a big customer of the plant hire group.