UK stocks are set to recover some of its recent losses this morning, as investors track gains in the US and Asia amid a raft of company releases.
City sources predict the FTSE 100 will open around 50 points higher than yesterday's close of 6,541.61.
US stocks closed on a high note as investors weighed earnings from both Coca-Cola and Johnson & Johnson and a rise in inflation, which accelerated in March on the back of higher food and rent prices.
Overnight in Asia it was revealed that Chinese economic growth slowed down in the first quarter to a rate below the government's target for the full year.
The annual rate of gross domestic product (GDP) growth eased to 7.4% in the first three months of the year, compared with the 7.7% expansion registered in the fourth quarter of 2013.
While the rate came in ahead of the consensus estimate for 7.3% growth, it will likely throw up warning signs to financial markets given that the government's official target for the whole of 2014 is for the world's second-largest economy to grow by 7.5%.
Despite the figure beating market expectations, analysts at Capital Economics pointed out that "a sharp slowdown in the economy in the first quarter last year also provided a weak base for comparison, helping to support year-on-year GDP growth last quarter".
Meanwhile, industrial production in the country increased by less than expected in March, according to data from the National Bureau of Statistics.
Output at Chinese factories rose at a year-on-year rate of 8.8% last month, up from 8.6% in February. Analysts, however, were looking for production to increase by 9%.
In the UK, today's focus is very much on company news, with Tesco this morning reporting that its profits fell for the first time in 20 years - although this was not as bad as analysts predicted - with UK, Asian and European businesses all feeling the pinch. A group trading profit of £3.32bn was marginally ahead of consensus analyst forecasts of £3.24bn, with underlying pre-tax profits of £3.05bn slightly greater than the estimates of £2.9bn.
Bunzl said revenue in the first quarter rose 5% compared to the previous year as the distribution and outsourcing group continued to invest in expansion.
Group operating profit in the first three months of 2013 climbed 10%, according to a trading update on Wednesday. The operating margin grew in three of the company's businesses and was flat in the fourth division.
Adrian Brown, the Executive Director and Chief Executive Officer of RSA Insurance's UK & Western Europe business has agreed to resign. The FTSE 100 group said Brown will continue his executive role until after a successor is appointed, a search for whom has already begun. He is taking up a position with a business partner of RSA.
Housebuilder Persimmon said total forward sales revenue increased 35% from 2013 as it kicks off its new financial year on strong footing. The York-based firm said it has around 7,200 new homes sold forward into the private sale market for 2014, up 38% from the same point last year, with an average selling price of £200,400, 3% more than the year before.