The FTSE 100 is expected to open higher on Thursday, potentially ending a three-session losing streak as investors await fresh UK economic growth figures.
Futures point to a 28-point, or 0.3%, rise to around 10,861, after the blue-chip index closed 0.1% lower at 10,833.15 on Wednesday.
Attention will centre on UK GDP data, with economists expecting the economy to have expanded 0.4% quarter-on-quarter in the second quarter, slowing from 0.6% growth during the opening three months of the year.
Sterling slipped to around $1.3494, while investors continued to digest Wednesday’s US inflation figures. Annual US CPI eased to 3.4% in July from 3.5% in June, strengthening expectations that the Federal Reserve could leave interest rates unchanged in September.
Oil remained elevated amid continuing tensions surrounding the Strait of Hormuz, with Brent trading around $88.22 a barrel. US President Donald Trump reiterated that Washington has control of the strategically important shipping route, while Iran maintains that it controls much of the waterway.
Gold eased to around $4,398 an ounce after reaching $4,422 on Wednesday.
Asian markets were broadly positive, with Japan’s Nikkei 225 gaining 1.7%, while the Shanghai Composite added 0.5% and Hong Kong’s Hang Seng edged 0.1% higher.
Alongside UK GDP, investors will watch US producer-price inflation later in the session. On the London corporate calendar, Antofagasta and Rank Group are due to report half-year results.
