The FTSE 100 <.FTSE> index is seen opening higher on Wednesday, recovering a touch after steep declines in the previous two sessions, helped by some hopes that a meeting of the U.S. Federal Open Market Committee (FOMC) may signal more measures to bring the fragile economic recovery back on track.
Miners could lead the rally in London after copper prices pushed 2.2 percent higher in Asian trade, rebounding after two days of losses.
Financial spreadbetters expect the UK blue chip index to open about 29 to 36 points higher, or up as much as 0.7 percent.
The FTSE 100 index index closed 122.65 points, or 2.2 percent lower on Tuesday at 5,421.57, having dropped 2.8 percent on Monday, as euro zone debt crisis fears returned to haunt the markets.
The Greek Prime Minister's call for a referendum on a crucial EU bailout package for his debt-stricken country, agreed last week, has sent shockwaves through global markets and heightened tensions over debt contagion.
U.S. blue chips <.DJI> dropped 2.5 percent on Tuesday, and MSCI's broadest index of Asia Pacific shares outside Japan <.MIAPJ0000PUS> fell 1.2 percent on Wednesday, with Japan's Nikkei <.N225> index ending down 2.2 percent.
However, U.S. stock futures were modestly higher as investors focussed on hopes the U.S. Federal Reserve, which began a two-day policy meeting on Tuesday, could begin to prepare financial markets for further monetary easing, even if it refrains from any new stimulus just yet.
An announcement from the Federal Reserve is not due until after the London close at 5:30 p.m.
On the macroeconomic front, October's UK Markit/CIPS construction PMI report will be released at 9:28 a.m., with a reading of 50.0 forecast, down from 50.1 in September.
Across the Atlantic, investors will scrutinise both the October Challenger Layoffs survey, due at noon, and the October ADP National Employment report, due at 12:30 p.m., for clues to Friday's key October non-farm payrolls.
Ex-dividend factors will knock a hefty 12.83 points off the FTSE 100 index on Wednesday, with BP
(Reporting by Jon Hopkins. Editing by Jane Merriman)