A small rise is expected in UK-listed stocks this morning, with gains limited by the slide seen across US equity markets last night.
City sources predict the FTSE 100 will open around 12 points above yesterday's close of 6,840.89.
"A somewhat quiet end to the week is expected today, as the European markets take a breather following yesterday's GDP and CPI fuelled rollercoaster," Alpari Research Analyst Joshua Mahaony noted this morning.
Meanwhile, concerns about global growth weighed down sentiment in Asia, giving a mixed picture at the close.
"European futures are signalling a flat open as aversion to risk continues, shifting investors to the sidelines," Lee Mumford at Spreadex said.
He also highlighted reports that "Ukraine troops have advanced to flush separatists from their eastern holdouts", adding that "the US and UK diplomats have pledged to punish Russia with industry wide sanctions if this month's presidential election is undermined".
Over in the States, stocks fell as industrial production unexpectedly declined and Wal-Mart Stores forecast profit that fell short of analysts' estimates. A particularly sharp drop was seen on the Dow Jones, which slumped nearly 200 points.
Industrial output dropped 0.6% in April following a 0.9% increase a month earlier. Analysts had expected it to remain unchanged.
In the US today, a preliminary report due out on economic confidence is expected to show an increase in the outlook for the world's biggest economy in May, for which Mahony said "there is the possibility of an element of volatility".
The University of Michigan's sentiment index is set to rise 84.5 this month from 84.1 in April, according to forecasts.
In UK company news, Coca-Cola HBC reported a drop in first quarter revenue and volumes due to the timing of Easter and foreign exchange
movements. The second largest bottler of the brands of The Coca-Cola Company said volume declined by 4% to 409.6m cases in the three months to March 28th and new sales revenue fell 7% to £1.3bn.
Keller Group reported that its overall trading in the four months to the end of April was in line with expectations in March. Although the Europe, Middle East and Africa region was behind, it said this was countered by a strong performance from its businesses in the US, with Asia and Australia on track. As such, its results for the full year remain in line with current market expectations.
Oil engineering group Lamprell has started the year well and is encouraged by the ongoing dialogue with a number of prospective clients for new projects and the recent $390m contract win with Ensco. In parallel, the firm has announced that it will pursue a rights issue with the aim of raising gross proceeds of £71.6m.