London pre-open: Stocks to edge up but quiet session expected amid US holiday

(Sharecast News) - London stocks were set to nudge higher at the open on Thursday following a positive close on Wall Street, but the session was likely to be quiet, with US markets closed for Thanksgiving. The FTSE 100 was called to open up around 5 points at 7,475.

Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said: "Thanksgiving is one of the calmest trading days of the year. Expect thin trading volumes and higher volatility."

On home shores, the S&P Global/CIPS preliminary manufacturing and services PMIs for November are due at 0930 GMT.

In corporate news, mining technology group Weir announced it is buying SentianAI, a Sweden-based developer of AI tech that optimises minerals processing performance.

The deal, made for an undisclosed amount, is hoped to accelerate Weir's digital capabilities to provide "enhanced productivity and sustainability offerings to customers".

Based in Malmö, SentianAI's AI algorithms learn and adapt to the dynamic processes within a mine, providing continuous improvement and optimisation over time.

Imperial Leather maker PZ Cussons said in an update that its performance was consistent with the 2024 outlook, with low-single-digit like-for-like revenue growth expected for the first half.

While Nigeria and the ANZ regions saw strong growth, Indonesia saw a decline, it said.

Additionally, PZ Cussons said it was addressing the challenges in Nigeria around a lack of dollars and the recent naira devaluation, taking measures to meet currency needs, reduce group debt, and progress with plans to de-list and buy out minority shareholdings in PZ Cussons Nigeria.