Little change is expected amongst the blue chips this morning, ahead of the release of both German unemployment and Eurozone consumer confidence data, which come amid growing concerns over the stagnant recovery in the euro-area.
City sources predict the FTSE 100 will open around three points higher than yesterday's close of 6,844.94.
The report on German unemployment is expected to show the number of jobless fell by 15,000 in May, compared to a 25,000 drop the previous month. The unemployment rate is forecast to hold at 6.7%.
Another report is predicted to confirm the consumer confidence index in the Eurozone increased to -7.1 in May from -8.6 a month earlier.
The data comes as European Central Bank (ECB) President Mario Draghi said the monetary authority was ready to act with conventional and targeted measures to combat high unemployment and falling prices in the Eurozone.
Their release follows a positive finish in the US last night, which saw stocks finish higher after durable goods orders rose unexpectedly and consumer confidence grew in line with forecasts.
Durable goods orders increased 0.8% in April following a 3.6% climb a month earlier, surprising analysts who had expected a 0.7% drop.
"Altogether, in our view, the report signals that moderate rates of business investment remain in place," according to Barclays Research.
"Despite core orders and shipments coming in slightly better than our forecast, the April durable goods report left our gross domestic product [growth] tracking estimates unchanged at 3.1% quarter-on-quarter for the second quarter and -0.6% quarter-on-quarter for the first quarter."
Warnings of 'bubble' from BDO as IPO market overheats
Back in the UK, companies and City institutions are concerned about a London stock market bubble, with recent valuations of initial public offerings (IPOs) looking 'overpriced' according to some observers.
A new survey of market sentiment has found that the majority of companies and advisers are concerned about overheating of the IPO market and hiring expectations have also dropped as companies take a more sober view of the economic recovery.
Last week holidays-to-insurance firm Saga scaled back its offer in order to ensure a positive aftermarket performance, not long after retail group Fat Face shelved its £440m IPO.
The latest Small and Mid-Cap Sentiment Index from BDO and the Quoted Companies Alliance adds fuel to the fire with findings that showed 54% of companies and 59% of advisors agree that recent IPO valuations have been overpriced.
SFO launches investigation into GSK's 'commercial practices'
In today's company news, the Serious Fraud Office (SFO) has opened a criminal investigation into the 'commercial practices' of pharmaceutical group GlaxoSmithKline (GSK). The UK fraud body called on whistleblowers to come forward with any information.
"We welcome approaches from anyone with inside information on all our cases including this one," it said. While details regarding this particular case are not yet known, the news will come as a further blow to shareholders after a wave of allegations against the company relating to international bribery.
Engineering group Weir has dropped its pursuit to merge with Metso after continued rejections from the board of the Finnish rival. "Weir believes it made a compelling proposal but remains financially disciplined and therefore does not intend to pursue this opportunity further at this time."
Banknote printer De La Rue said it entered the new financial year with a good order book, despite a more difficult pricing environment in the currency markets and expectations for 2014/15 remain unchanged. Despite this, full-year underlying operating profit jumped 43% to £90m.
Brewin Dolphin demonstrated mostly good progress as new management wrestled the business back on track, with first-half profits ahead of expectations but a slightly lower dividend. Funds under management grew 3.4% to £36.1m, with adjusted profit before tax rising 25% to £29.7m and adjusted diluted earnings up 21% to 8.6p per share.