European markets have opened higher today, extending the previous day’s sharp gains, as investors await the release of US non-farm payrolls data which is expected to show that hiring accelerated in January.

Meanwhile, the National Institute of Social and Economic Research (NIESR), in its quarterly review, forecast that the UK economy would grow 2.5% in 2014 and 2.1% in 2015, with consumer spending likely to remain a key driver of growth. Later, investors would keep a close eye on UK trade balance and industrial production data for December.

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