City sources predict the FTSE 100 will open up 85 points from yesterday's close of 6,558.82 after the Federal Reserve surprised with its decision to maintain its bond-buying strategy on the back of softer growth.
Following its two-day policy meeting, the Fed announced it had decided to stick with its approach of buying $85m of debt a month, but said it could still potentially scale back this sum by the end of the year.
Yesterday, the FTSE 100 closed 11.35 points lower at 6,558.82, the index's second day in negative territory after hitting a six-week high of 6,622.86 on Monday.
Wednesday also saw the release of the minutes of the Bank of England's Monetary Policy Committee (MPC) meeting, showing that policymakers voted unanimously to leave interest rates and stimulus unchanged, as expected.
With this and the Fed's policy meeting out of the way, investors will today turn to the release of US data on Thursday.
A Labour Department report on initial jobless claims in the world's biggest economy is expected to come in at 330,000 for the week ending September 13th, compared to the previous week's 292,000.
Separately data is expected to show that existing home sales for August fell 2.6% compared to the previous month's uptick of 6.5%.
The Conference Board's index of US leading economic indicators is tipped to gain 0.6% in August from July's 0.6% jump to 96.
In the UK, a report on retail sales is forecast to show a 3.2% year-on-year increase in August, up slightly from the previous month's 3.1% jump.
In today's UK company news, regulatory price increases have allowed water and sewage group United Utilities to raise revenues and profits in the first half of the year. The FTSE 100 company said it anticipated underlying operating profits would be moderately higher than the first half of last year in the six months to the end of September due to tight control of costs.
African Barrick Gold has appointed a new Chief Financial Officer, Andrew Wray, who originally joined the company as Head of Corporate Development and Investor Relations in 2010. He will retain his existing responsibilities in addition to those of his new role. Jaco Maritz, who assumed the role of Acting Chief Financial Officer earlier this year, will revert to his original position of Vice President of Finance.
Food wholesaler Booker reported a strong set of interim results, as the warm summer weather boosted customer numbers, adding that the Makro turnaround is progressing well. Total sales in the 12 weeks to September 13th, including Makro, rose by 19.3% on the same period last year. Booker like-for-like (LFL) sales (excluding Makro) rose 3.5% with non-tobacco LFL sales climbing 6.9%.
Evraz has agreed to sell its subsidiary Evraz Vysokogorsky Iron Ore Mining and Processing Plant (VGOK) to NPRO URAL for $20m. The company has also agreed to provide of up to 400m Russian Rubles (RUB) to VGOK to normalise the working capital of the unit.