London pre-open: Volumes to pick up but quiet session expected

15th May 2015 07:41

UK stocks are expected to edge higher on Friday morning as trading volumes pick up following a quiet session the previous day.City sources predict the FTSE 100 will open five points higher than Thursday's close of 6,973.04.Volumes were lower than usual on Thursday owing to bank holidays in both France and Germany."Trading volumes should pick up on Friday as people in Europe return to their desks [...], although they will probably remain below average as it's likely many will stay away today and turn it into a long weekend," said analyst Craig Erlam from Oanda.He said that a lack of economic data on Friday "won't help matters".The UK construction output data due at 09:30 is the only major release of the morning, with output forecast to have risen 4% in March after a 0.9% fall in February. The annual growth rate is expected to come in at 1.1% after a previous 1.3% decline.Friday afternoon will see the release of a host of economic data from the US with the Empire State manufacturing index, industrial production and University of Michigan consumer-confidence survey all due.Stocks to watchCoca-Cola HBC (CCH), the second-largest Coca-Cola bottler in the world in terms of volume, missed forecasts slightly with a smaller-than-expected increase in first-quarter sales. CCH, which now only provides sales and volumes numbers for the first and third quarters and not P&L details, said net sales revenues totalled €1.353bn in the first three months of 2015, up just 1.7% on last year. Broker Numis Securities had pencilled in a 5.5% rise in the top line to €1.404m.SABMiller has agreed a deal to buy London-based modern craft brewer Meantime Brewing Company for an unspecified sum as it looks to diversify from its mainstream beer brands. Volumes of beer sales at Meantime grew by 58% in 2014, outpacing the UK beer market's 1% growth during the same period and making it one of the top-performing modern craft breweries in the UK.Having made a good start to the year, with forward sales 8% of the same time last year, Bovis Homes Group has hiked its dividend plans for the full year. Bovis said it now planned to pay out 40p per share, up from the 35p it had previously indicated.