Stocks are set for a rather modest gain early on in today's session, with the FTSE expected to rise just two or three points from yesterday's close of 6,844.55 at the opening bell.
This comes after a generally positive performance from both Asia and the US overnight, and ahead of Europe's main focus today, namely the UK consumer price index (CPI).
Joshua Mahony from Alpari UK said: "European markets are looking at a somewhat mixed open as it currently stands following a largely positive overnight Asian session.
"The shock imposition of martial law within Thailand [brought] about a more negative session within the Thai SET benchmark, however across the rest of the region, we saw business as usual and some strong gains."
The decision to impose martial law has raised concerns of a potential coup, which would follow what has already been months of protests and rioting and the disposition of the country's Prime Minister.
"Previous experience shows us that such issues do not typically translate into significant losses, with the sell-off in response to the ousting of Yingluck's brother back in 2006 being remarkably uneventful," Mahony continued.
"Ultimately, the determination of how it will be treated by the markets will be dependent upon the outlook in the medium term and there is the feeling that this step could be a necessary to calm down the protests, thus allowing people to finally get back to the polls and appoint the next prime minister."
CPI expected to print at 1.7 per cent
Back in the UK, data out today is expected to show that CPI rose by 1.7% year-on-year in April, according to the consensus.
Nonetheless, so-called 'base effects' associated with an early Easter in 2013 and increases in fuel prices and transport costs may see a print of 1.8%, Barclays Research believes, close to the 1.9% level at which it sees CPI ending the year.
Forecasts from the Monetary Policy Committee point to CPI at 1.9% at the start of 2017.
The retail price index (RPI) is expected to edge higher, towards a rate of 2.6% year-on-year, bolstered by strong house price growth, although as Governor Carney explained just last Sunday, the Bank may yet adopt further measures to restrain house prices.
Russia has prepared raft of potential retaliatory steps
Acting as a backdrop, Russian Prime Minister Dmitry Medvedev, said Russia is being pulled into a second Cold War with the US and its allies.
In an interview with Bloomberg News Medvedev indicated that Russia has prepared a raft of retaliatory steps in response to potentially wider sanctions imposed by the US and the European Union.
Sales drop 1.4 per cent at Marks&Spencer's general merchandise division
In this morning's company news, Marks and Spencer (M&S) reported a 3.9% fall in annual pre-tax profit to £623m, reflecting a drop in sales at the struggling general merchandise division. General merchandise, the clothing arm which has recently undergone a rapid transformation to turn business around, saw like-for-like sales fall 1.4% in the year ended March 29th. Total UK like-for-like sales rose 0.2% as food sales increased 1.7%.
Legal & General said it has completed the acquisition of Global Index Advisors, giving the UK insurer a bigger foothold in the US pensions market. The acquisition, by Legal & General Investment Management America (LGIMA), is for an initial payment of $30.75m with deferred consideration of $1.5m payable over two years from the date of completion. Further payments of up to a maximum of $18.15m will be made over three years from the date of completion.
Vodafone's earnings fell 7.4% in the year to end-March as the mobile operator confirmed its expected final dividend of 7.47p per share. Chief Executive Vittorio Colao admitted the group's performance had been "mixed", with competitive, regulatory and macroeconomic pressures leading to several write-downs in Europe.
Insurer RSA is selling its majority-owned Canadian insurance brokerage business Noraxis Capital Corporation to a subsidiary of Arthur J. Gallagher & Co. for 500m Canadian dollars.