Investors await ECB bond move data

With the FTSE 100 27 points up at lunchtime, and having shown hardly any sign of volatility all day, you could be forgiven for thinking the Eurozone crisis had gone away. In fact, investors could simply be sitting on their hands as they wait for data from the European Central Bank on bond-buying. The ECB will say at 2:30 (our time) how many Italian and Spanish bonds it bought last week. Investec economist Victoria Cadman told Reuters: "[The market] could react badly either way. It it's a really big number then the market thinks without the ECB's intervention then Spanish and Italian yields will be hugely higher. Equally, if it's similarly small maybe the reaction is 'well, the ECB hasn't been doing as much as we'd hoped.'" Ahead of the US open, Dow Jones futures were pointing to the US market opening up 34 points.