London's FTSE 100 barely budged Tuesday morning as traders held their breath ahead of a key speech from Bank of England Governor Andrew Bailey. The pound traded in a tight range against the dollar, reflecting a market hungry for direction amid thin economic data this week. Investors are parsing signals from a divided Monetary Policy Committee, with Thursday's GDP figures offering the only major test for sentiment before crucial jobs and inflation reports land later this month.

Markets are pricing in a potential interest rate cut in March, a view held by analysts at ING who see the central bank as more dovish than current pricing suggests. In corporate news, pest control giant Rentokil Initial announced veteran boss Andy Ransom will step down in March. He'll be succeeded by Mike Duffy, formerly of the US medical device firm Steris, in a planned transition.

Meanwhile, a flurry of trading updates painted a mixed picture for British PLC. Recruitment firm Pagegroup reported a 4.6% drop in quarterly profit, citing weak conditions in Europe. However, Whitbread saw sales rise 2%, and Games Workshop delivered a record half-year performance. Trustpilot also cheered investors by forecasting an 18% rise in full-year bookings.