City sources predict the FTSE 100 will open around 25 points higher than yesterday's close of 6,674.48, regaining losses seen on in London markets on Wednesday.
The gains are expected despite moderate losses in the US overnight, which saw the S&P 500
snap a five-day winning streak as investors weighed mixed corporate earnings, including some gloomy results from bellwether Caterpillar.
Yesterday saw the FTSE 100 finish in negative territory for the first time in 10 trading sessions as traders took profits after the index hit a five-month high on the previous day.
Back across the Pond, the release of US data, including initial jobless claims and new homes sales, will be high on the macro agenda on Thursday.
Initial jobless claims figures for the week ended October 18th will come two days after a report showed non-farm payrolls increased by 148,000 in September, missing the consensus for 180,000.
The weaker-than-forecast jobs data reinforced expectations that the Federal Reserve will hold off on tapering its monetary stimulus.
Today's US new home sales figures are expected to have risen by 1% in September compared to the prior month which climbed 7.9%.
In the Eurozone, the Purchasing Manager Index (PMI) Composite, which includes manufacturing and services activity, is predicted to have slowed slightly to 52.4 in October from 52.2 last month. A reading above 50 signals expansion.
Later in the afternoon Bank of England Governor Mark Carney will speak at the Financial Times 125th anniversary event in London.
He is likely to drive home the Bank's vow to keep interest rates at the current low of 0.5% until the unemployment rate falls to 7%.
Minutes of the Bank's last meeting, released on Wednesday, showed a unanimous vote to maintain monetary policy.
In today's company news, advertising giant WPP reported a 7.4% rise in third-quarter revenue to £2.68bn on the back of acquisitions and new business wins. The company achieved new business wins of £4.93bn in the first nine months, compared with £3.35bn a year earlier, according to a trading update.
Power systems group Rolls-Royce has won a contract for the supply of thrusters and deck machinery for use in drilling offshore Korea. The contract, worth around £22m to the FTSE 100-listed firm, will see it work on two semi-submersible drilling rigs to be built at Samsung Heavy Industries for Stena Drilling by 2016.
Consumer products giant Unilever met guidance for sales growth in the third quarter and said it made 'good progress in slower markets'. Shares in the Lynx, Marmite and Persil manufacturer sank sharply at the end of September after it warned that a slowdown in emerging-market growth would result in underlying sales growth of 3-3.5% in the third quarter. The company confirmed today that growth during the period was 3.2%, compared with the 5% growth seen in the first half.