UK markets are set for a subdued start as we head into the Easter break, despite a solid showing overnight from Asian markets.
Spread betting firms indicate the FTSE 100 will open eight points lower at 6,578.
Asian markets rose for the second day in a row Thursday after better than expected US industrial production data.
In Japan, the Nikkei 225 is up 0.1% at 14,426 while in Hong Kong the Hang Seng is 0.4% firmer at 22,780.
US markets had a good day, helped by some decent corporate news flow.
The Dow Jones rose 1% to 16,425, the S&P 500 advanced 1.1% to 1,862, while the tech-heavy NASDAQ Composite outdid them both, climbing 1.3% to 4,086, as former internet star Yahoo! went on a surge, largely on the strength of its substantial stake in Asia-focused e-commerce site Alibaba.
Nomura is warning investors not to expect a quick recovery in the trading statement.
The broker said: “We expect Q3 revenue +1.8%, in line with H1 (+1.7%) vs comps +4.0%. With H1 results, the company had indicated a slightly better H2 momentum v H1, but we believe that this will be marginal with emerging markets still soft.”