MORNING BID EUROPE-Cameron on European charm tour

* A look at the day ahead from European Economics and Politics Editor Mark John and Nigel Stephenson, specialist editor, EMEA markets. The views expressed are their own.

LONDON, Feb 5 (Reuters) - Polls on whether Britain should stay in the EU or not have to be taken with a pinch of salt but the latest YouGov (LSE: YOU.L - news) survey, conducted two days after PM David Cameron set out the reform proposals he would be pushing for, is interesting: it shows the "leave" campaign taking a nine-point lead over the "in" camp, its biggest lead since the forthcoming referendum's wording was set last September. At least one in five voters still don't know which way they'll be voting and it should also be stressed that other polling organisations are coming up with completely different results, but it does underline the challenge ahead for Cameron. He is off to Poland and Denmark today as part of what will be a diplomatic charm offensive ahead of the EU's Feb 18-19 summit. Meanwhile, EU legal experts and national delegates sit down together in Brussels to examine the proposals in detail.

MARKETS AT 0750 GMT

With (Other OTC: WWTH - news) mounting talk of recession, whether in the United States or globally, the latest U.S (Other OTC: UBGXF - news) . jobs report takes centre-stage on Friday. Expectations are for 190,000 new jobs against December's 292,000 surge but the data comes after some pretty weak figures this week, notably the ISM manufacturing index and Thursday's weekly jobless claims number, which was higher than forecast. Add in Fed policymakers talking of increased downside risk to the economy and "time for patience" on further rate hikes and no wonder markets are nervous before the payrolls report. Stock haven't really done much so far. MSCI (NYSE: MSCI - news) 's main Asia-Pacific ex-Japan index is up 0.4 percent, Tokyo's Nikkei lost 1.3 percent and Chinese indices closed down about 0.7 before their week-long Lunar New Year shutdown. European stocks are also expected to open with a cautions tone, with futures indicating the FTSE 100 will edge up and the other main European indices seen lower.

The dollar is up 0.1 percent vs a basket of currencies but is on track for its worst week since May 2009, after U.S. rate hikes were priced out in money markets. The euro was down 0.1 percent at $1.1193 and the yen flat at 116.78 per dollar, close to a two-week high. The strong yen was the main factor behind the Nikkei's fall. Oil is pretty flat and trading light. Brent futures last down 21 cents a barrel at $34.25.

In European stock markets, ArcelorMittal (Other OTC: AMSYF - news) could be in focus after the world's largest steel maker launched plans to raise $3 billion via a rights issue in a bid to reduce debt amid weak steel and mining sectors. Eyes also on BNP Paribas (Xetra: 887771 - news) after it unveiled plans to cut investment banking costs by 12 percent to boost profitability.

Upcoming data/events/themes for market reports on Friday:

- German Dec industrial orders (-0.7 pct m/m vs -0.5 f'cast)

- French Dec trade balance

- U.S. non-farm payrolls (f'cast is for 190,000 new jobs vs 292,000 in Dec)

- BIS chief Caruana at LSE 1830 (Editing by Sonya Hepinstall)