London pre-open: Stocks called higher in quiet trading as US celebrates Thanksgiving

London stocks are called to open in the black on Thursday in what is likely to be a fairly quiet day’s trade given the Thanksgiving holiday in the US and the absence of any market-moving UK data.

The FTSE 100 is expected to open 10 points higher than Tuesday’s close at 6,348.

“European markets aren’t expected to provide too much in the way of fireworks this morning, with US markets pretty much side-lined until next week, and attention likely to be focussed here in the UK in the aftermath of yesterday’s Autumn Statement,” said Michael Hewson, chief market analyst at CMC Markets.

Martson’s posts 7% growth in full year revenue

The good news is flowing from the tap at Marston’s, after it posted a 7% growth in revenue for the year. The FTSE 250 pub and beer company posted its preliminary results for the 52 weeks ending 3 October.

It said underlying group revenue rose to £845.5m, which helped boost profit before tax by 10% to £91.5m. The company saw profit growth in all its trading areas, despite disposing of a number of lower-end pubs which no longer have a sustainable future.

The sales of the pubs among other assets generated £69.6m for the group.

Tesco has paid $12m to settle one of two class action lawsuits brought by disgruntled US investors who sued over the overstatement of the grocer's 2014 first-half profits. The class action in question was made in New York against the company and certain of its former directors but the settlement agreement will, subject to confirmation by a federal court in New York, settle the class action with no admission of liability, with Tesco denying wrongdoing.

Some serious efficiency savings have seen profit rise on flat earnings at Severn Trent.

Turnover at the FTSE100-listed water utility was down marginally year-on-year, sitting at £896.1m, down 0.2%, while profit before interest and tax was up 2.6% on an underlying basis to £281m.

It brings underlying basic earnings per share up 11.4% to 58.6p.