Wednesday brought UK Construction PMI figures. At 52.6 in October, the seasonally adjusted Markit/CIPS UK Construction Purchasing Managers’ Index edged up from 52.3 in September and remained above the 50.0 nochange threshold for the second month running. The latest reading pointed to the fastest upturn in activity since March, although the rate of growth was only modest and still much softer than the average since the recovery began three-and-a-half years ago (57.3).On Thursday UK Services PMI figures were released. The UK Services Business Activity Index remained above the no-change mark of 50.0 for the third consecutive month in October, indicating a continued recovery in growth following a contraction in July linked to the EU referendum. Moreover, the Index rose to 54.5, from 52.6, signalling the fastest expansion since January.

However, the focus of the session was on High Court Rulling on Brexit and BoE interest rate decision. Parliament must vote on whether the UK can start the process of leaving the EU, the High Court has ruled. This means the government cannot trigger Article 50 of the Lisbon Treaty - beginning formal exit-negotiations with the EU - on its own. Theresa May says the referendum - and existing ministerial powers - mean MPs do not need to vote, but campaigners called this unconstitutional.

The Bank of England said it’s no longer expecting to cut interest rates again this year and indicated that concern about accelerating inflation may even warrant tightening at some point. With the pound’s weakness pushing up inflation faster than anticipated, Governor Mark Carney and the Monetary Policy Committee said that had “adversely affected” how they balance the needs of the economy. Having lowered interest rates in August in response to the Brexit vote, the committee said its previous guidance on the likelihood of another cut had “expired.”

This week markets will be looking at:

Industrial Production (Tuesday 10:30)