Wednesday's session brought UK Services PMI data.UK Services PMI rose for the second month running in April to 59.5, from 58.9, signalling the fastest rate of service sector expansion since August 2014. Decline to 58.7 was forecasted. Activity in the sector has now risen for 28 successive months, the longest sequence of growth in seven years. The Index remained comfortably above its longrun average of 55.2 in the latest period.

Focus of the Friday's European part of the session way on UK election results. British voters cast their ballots Thursday in the country’s most unpredictable national election in a generation. British Prime Minister David Cameron is on course for re-election after the Labour Party was eviscerated in Scotland and failed to make meaningful gains in England. The Liberal Democrats also suffered a disastrous night, with several top level candidates losing their seats. Meanwhile, the Scottish National Party swept up in north of the border. Opinion polls had initially suggested a close-fought race with no big party likely to win a majority of seats in the U.K. Parliament.

“This result is far less complicated than the markets’ worst fears,” said Bill O’Neill, head of the U.K. investment office at UBS Wealth Management. “With certainty will come a renewed confidence from investors in a more stable and transparent policy climate.”But some cautioned that a government led by Mr. Cameron could hurt sterling in the longer term because of his pledge to hold a referendum on whether Britain should stay in the European Union. “That referendum risk…will haunt the currency at a later stage,” said Phyllis Papadavid, senior global currency strategist at BNP Paribas.

This week markets will be looking at:

Official Bank Rate/Asset Purchase Facility (Monday 13:00)

Industrial Production (Tuesday 10:30)

Average Earnings Index/Claimant Count Change/Unemployment Rate (Wednesday 10:30)

BOE Inflation Report (Wednesday 11:30)