London pre-open: Stocks to track US and Asian markets lower

LONDON (ShareCast) - UK stocks are expected to open in negative territory on Thursday morning, tracking declines in the US and Asia overnight. City sources predict the FTSE 100 will open 45 points lower than Wednesday's close of 6,990.97.

US markets suffered sharp declines on Wednesday as economic data continued to disappoint, with durable good orders unexpectedly dropped 1.4% in February.

"For the most part of this year the consensus view has been, and to some extent still is, that the US economy is in pretty good shape with robust jobs growth, helping propel a recovery that sets it apart from its peers," said CMC Markets analyst Michael Hewson. "This rather rose tinted view has taken somewhat of a knock in the past few days with a raft of disappointing data announcements, and yesterday's durable goods numbers for February did nothing to dispel these concerns." In economic data on Thursday, investors will digesting German consumer confidence, UK retail sales, US jobless claims and US service-sector figures.

Stocks to watch Budget airline Easyjet (Other OTC: ESYJY - news) expects to beat previous guidance for its first half, mainly due to foreign exchange movements in the second quarter. The revenue per seat growth forecast for the six months to 31 March has been boosted from 2% to 2.5% at constant currency. The company's revised outlook also predicts between a loss of £5m to a profit of £10m for the first half, compared with previous estimates of a £10m-30m loss. The year before, it recorded a pre-tax loss of £53m.

Royal Bank of Scotland (LSE: RBS.L - news) has confirmed that it expects to make $3.2bn from the partial sale of shares in US subsidiary Citizens (NYSE: CIA - news) . RBS sold 24.7% of Citizens at a public offering price of $23.75 per share.

Supergroup (LSE: SGP.L - news) chief executive Euan Sutherland has unveiled his new strategy for the company, including the introduction of a dividend in 2016 and buying back its US rights. Also, Actor Idris Elba, famous for his roles in The Wire and Mandela Long Walkt To Freedom, will collaborate with Superdry to design and produce a new premium line of clothing which will be sold globally in stores and online.

Unite Group (LSE: UTG.L - news) has received planning approval for a 2.1-acre site in central Coventry. The new building will cater for 286 students and its completion is expected in time for the 2016/17 academic year.

Euromoney expects to report a 1% increase in total revenues for the six months to 31 March, according to the pre-close trading update on Thursday. The company also reported that its group net debt should reach £10m at the same date, falling from £37.6m in September 2014.