* FTSE 100 up 0.2 pct, near one-week highs
* Volatile trade, thin volumes prevail ahead of ECB
By Toni Vorobyova
LONDON, Oct 4 (Reuters) - Britain's FTSE 100 hovered around one-week highs on Thursday, in thin, jittery trade, with investors unwilling to put on big bets ahead of a European Central Bank meeting later in the session and a key U.S. job reports on Friday.
ECB President Mario Draghi is expected to reaffirm the bank's commitment to the euro and its plans to buy bonds to help bring down the borrowing costs of struggling member states. Investors are also looking for any clues on how close Spain is to making an official bailout request needed to trigger the ECB action.
By 1023 GMT, the UK's FTSE 100
was up 11.21 points or 0.2 percent, at 5,836.41 points, recovering from a dip into negative territory on geopolitical concerns about tensions in the Middle East and coming back towards its earlier one-week high of 5,854.16.
"Everything is extremely short term, we are getting whipped around on some spurious speculation which just proves that there probably aren't that many people in the market, they are waiting to see what Draghi has to say, to see what the non-farm payrolls are like," said Ioan Smith, strategist at Knight Capital, referring also to Friday's release of key U.S. jobs data.
Underscoring a lack of conviction, by mid-session, volumes on the UK benchmark were at just 24 percent of their 90-day daily average.
The fall in the index came as it failed to sustain a break above the narrow 5,738 to 5,844 range, which it has been locked in for the past week. On the downside, the 30-day moving average offered technical support, capping losses.
"It hit resistance levels which we failed at a couple of times. My theory is that it's going to go higher from here, but it's just consolidating this morning ... We just need a bit of positive news to get it through," said Richard Curr, head of dealing at Prime View.
Thursday's central bank meetings, however, are unlikely to provide that catalyst, he said.
The Bank of England is widely expected to leave policy unchanged, and thus is unlikely to release a statement.
The ECB is also unlikely to offer anything more than the bond-buying plans outlined last month.
"They've already made some pretty significant announcements, and they can't make significant announcements every time they meet," said Darren Winder, strategist at Oriel Securities.
"The market is caught between earnings momentum which has turned heavily negative during the third quarter, a significant policy response to the slowdown in global growth that we've seen over the last six to 12 months, and now there's a debate about the effectiveness of the policy actions that they've taken."
(Additional Reporting by Alistair Smout; Editing by Susan Fenton)
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