(Sharecast News) - London's top-flight index was set to open higher on Thursday, after a mixed session on Wall Street overnight and as concerns over gas supplies in eastern Europe lingered.
The FTSE 100 was set to open 0.61%, or 45 points, higher, having closed up 0.53% on Wednesday at 7,425.61.
"US and European futures are trading flat as traders are trying to overcome the current pessimism in the stock market that has sent stock prices tumbling during April," said AvaTrade chief market analyst Naeem Aslam.
"The Nasdaq 100 index is sitting near the lows of the year, and it is down nearly 22% from its all-time high - there is no doubt that it is the worst-performing index among the S&P 500 and the Dow Jones.
"Over in Europe and in the UK, what matters the most for traders is the gas supply situation from Russia."
Aslam noted that Moscow had demanded payments for its natural gas supplies in roubles.
"Certain countries and companies are finding the grey area to fulfil Russia's demand, which isn't sitting right with the lawmakers here who imposed sanctions on Russia."
On the economic front, all eyes were on the United States, where the latest economic growth measure was due to be released at 1330 BST.
GDP growth is expected to have slowed significantly in the first quarter, with economists pencilling in a rise of 1.1%, compared to 6.9% three months ago.
On home shores, Bank of England governor Andrew Bailey is due to speak at 1000 BST, while in Germany, inflation figures for April are due out at 1300 BST.
In equities, kitchen supplier Howden Joinery said that overall revenues had grown 21.8% year-on-year in the 16 weeks ended 16 April, while same depot revenues were up 20.1%, driven by increases in both prices and volume.
Howden's stated that on a local currency basis, depot revenue in continental Europe increased by 21.8% and by 24.2% on a same depot basis, compared to the equivalent periods last year.
Unilever warned about rising costs as the consumer goods group reported higher first-quarter sales driven by price increases.
Underlying sales rose 7.3% in the three months to the end of March as prices rose 8.3% and volume fell 1%. Turnover rose 11.8% to €13.8bn.
UK supermarket chain Sainsbury's warned of lower profits this fiscal year as the cost-of-living crisis and inflation hit the economy.
The company forecast underlying pre-tax profit of £630m - £690m in full-year 2022/23 as it posted a £730m profit last year, up 104% on the prior 12 months driven by grocery and fuel sales.
Asia-focused bank Standard Chartered reported a better-than-expected 6% rise in first-quarter profit, boosted by rising global interest rates.
Statutory pre-tax profits rose to $1.49bn in the three months to 31 March from $1.4bn a year earlier and compared with the $1bn average estimate compiled by the bank.