City sources predict the FTSE 100 will open around 18 points higher than yesterday's close of 6,731.43, ignoring losses seen in the US overnight and a mixed performance on Asian markets.
Although it was announced overnight that October Chinese factory activity climbed from 51.1 to 51.4 month-on-month, there was in fact a significant gap between big and small manufacturers, with the smaller companies actually experiencing a contraction in the four-week period.
Zhao Qinghe, a spokesman for China's National Bureau of Statistics, said: "Although the PMI rose in October for the fourth consecutive month, the momentum driving the increase is unbalanced."
Meanwhile, in the US, although stocks finished broadly lower they were actually up for the month as a whole, posting the biggest gains for that month in three years.
The Chicago NAPM´s purchasing managers´ index for the month of October surged to 65.9, which handily beast estimates for a reading of 54.5. Some market commentary was also referencing the approaching mid-December deadline on Capitol Hill for Congressmen to thrash out a medium-term proposal on fixing the country´s finances.
In today's data, the US Institute for Supply Management's (ISM) manufacturing index is expected to fall to 55.1 in October from 56.2 a month earlier. A reading above 50 signals expansion.
Later in the day, Federal Reserve officials will speak after the central bank this week announced it was keeping its monetary policy unchanged.
The Fed on Wednesday said it would maintain its monthly $85bn bond buying programme and keep its interest rate at 0.25%.
Back on this side of the Atlantic, Royal Bank of Scotland said it will not split into 'good' and 'bad' banks, as it reported a 14% fall in core operating profit to 1.28bn in the third quarter. Non-core operating losses widened to £845m from £586m a year earlier due to exit and restructuring costs as the bank prepares to return to privatisation.
The UK purchasing managers' index (PMI) for manufacturing is tipped to drop slightly to 56.4 in October from 56.7 in September.
Over in Germany, the government slammed "incomprehensible" criticism from the US Treasury, which said its export-led growth model was damaging growth for the Eurozone as well as the wide global recovery.
British Sky Broadcasting Group on Friday announced that it had purchased 0.2m shares
for cancellation at a volume weighted average price of 933.50p per share.
Meggitt had a double dose of bad news for investors as it told them trading had been "slightly" below expectations and a supply hiccup could cost 20m pounds. The FTSE 100 aerospace and defence manufacturer warned it now expected 2013 revenue growth rates to be in the "low single digits". It had given guidance of mid single digit revenue growth for the full year at its interims in August.
DS Smith, which supplies recycled packaging for consumer goods, said trading for the half year to October 31st had been in line with expectations, with good performances seen across all its businesses. The group also said that it felt positive in its outlook, and expects to meet its medium term targets.
FTSE 250 insurer Direct Line lifted operating profits 6.1% towards the top end of consensus forecasts for the third quarter, though gross written premium continued to weaken in competitive market conditions. The increase in to £131.2m for the quarter means total operating profits have grown 21.1% in the first nine months to £417.8m.