Markets Overview: (Source: Bloomberg, FT, Reuters, DJ Newswires)

The UK 100 Index is called to open lower by 17pts at 6836pts following a typical 'risk off' Friday session which saw 23pts dropped.

US markets rebounded from losses to all finish higher, with the Dow Jones +68pts at 17,137, and the S&P 500 +10pts above 2,000 again to close at 2,007 as investors digested the implications of the non-farms which came in lower than expected. With the payrolls data coming in at 142,000 vs 230,000 expected, does this mean the Fed will be in no hurry to increase rates in the near future?

Asian markets were mixed with the Hang Seng down slightly by 0.2% and the Nikkei positive by 0.25% as investors focused on China’s record trade surplus whilst Japan’s GDP came in at 1.8%. With the ceasefire in Ukraine supposedly broken last night and the threat of new sanctions against Russia some traders decidedly to stay on the sidelines.

The biggest decliners on Friday were Fresnillo (FRES.L) and Randgold Resources (RRS.L). The price of gold slumped as low as $1257 sending shares down by 4.56% and 4.11% respectively.

The ceasefire agreed between Ukraine and Russia caused traders to drop the safe haven metal, although the ceasefire now appears to have been short lived with gunfire reported just two days into the truce.

Royal Bank of Scotland (RBS.L) fell 2.23% as the 'Yes Vote' for Scottish independence gathered momentum, at 12 times Scotland's GDP is the bank too big for the country and what would happen if it once again required financial support?

Vodafone (VOD.L) shed 1.62% as bid talk involving AT&T and Softbank fails to gain traction.

BP (BP..L) was the top performer, bouncing back by 2.59% after Thursday's capitulation (shares down 5.90%) having been found 'grossly negligent' for its part in the Maconda Well disaster of 2010.

Rising stocks represented just 28% of the UK 100 on Friday, aside from BP modest gainers included defensive companies such as Severn Trent (SVT.L), National Grid (NG..L), SSE (SSE.L) and Shire (SHP.L) up as much as 1% as traders sought safety.

In commodities, gold rebounded from 11 week lows following payrolls data to close at $1267 having hit fresh lows of $1257 during the day’s trading. Meanwhile hedge funds trimmed bullish gold bets again for the third consecutive week with net-long positions at 11-week lows. WTI traded near a three week low at $93.45 a barrel as Chinese data showed a slowdown for imports.

In FX, the pound hit its lowest levels against the dollar to trade at $1.6166 as uncertainties over Scottish independence fuelled markets jitters. The yen was nearing six year lows versus the dollar as Japanese data showed a slump in business spending and signs the economy was losing momentum trading at $105.13.

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Key Overnight Macro Data: (Source: Reuters/DJ Newswires)

• CH          Trade Balance                   BETTER
• CH          Exports                               BETTER
• CH          Imports                              WORSE

See Live Macro Calendar for full data line-up, incl. consensus expectations

UK Company Headlines: (Source: Reuters/DJ Newswires)

• Primark owner AB Foods maintains year guidance
• BP The British government has urged the U.S. Supreme Court to review appeals court rulings against BP.
• Ryanair/Boeing & Co plan to make a significant fleet announcement on Monday.
• Unite Group secures planning approval for new development
• WS Atkins completes acquisition of U.S. nuclear firm for £9mn
• Dechra Pharmaceuticals FY revenue up 1.6%
• Charles Stanley issues second profit warning in five months