Weekly review

The FTSE 100 finished the week up 127.76 points to 7,337.81 points.

Equity view

SIG reported an 11. 2% rise in group sales in the year to the end of December, a performance it described as “disappointing” as it admitted that it lost sight of its customers somewhat due to its transformation programme, but investors appeared relieved it wasn't another profit warning.

Estate agent Countrywide reported a small increase total group income for the year to the end of December as it said earnings are expected to be in line with the current range of market expectations amid a challenging market and a slowdown in London.

Pub operator Mitchells & Butlers issued a first quarter trading statement on Friday, covering the 15 weeks to 7 January, with like-for-like sales growth for the year-to-date improving to 1. 7%.

British fashion brand Burberry has confirmed that Julie Brown will be taking on the role of chief operating and financial officer on 18 January 2017.

Debenhams reported better than expected Christmas trading, with like-for-like sales at the department store group strengthening into January and profit margins remaining in line with targets.

Sports retailer JD Sports Fashion said on Thursday that headline pre-tax profit for the current financial year is likely to be ahead of consensus market expectations of £200m by up to 15%.

Housebuilder Barratt Developments said pre-tax profit for the six months to the end of December is expected to be up 7% on the same period a year ago, with overall market conditions healthy amid strong demand for new homes.

AO World’s third quarter revenue climbed but the European online electrical retailer remained cautious about the final quarter given the uncertain economic outlook in the UK.

Marks & Spencer posted a strong third quarter trading update, including a long-awaited sales increase from its troubled clothing business, as the retailer continues to roll out chief executive Steve Rowe's five-year plan to improve productivity.

Tesco notched an eighth consecutive quarter of like-for-like growth and its first quarterly market share gain in five years.

Amid troubled times for some more established clothing retailers, SuperGroup, the owner of the Superdry fashion brand, lifted its interim dividend by a quarter after a half year where sales and profits grew strongly in the UK and gained traction in the US and China.

Primark owner Associated British Foods reported group revenue from continuing operations 10% ahead of the same period last year at constant currency, though flat like-for-like sales at Primark disappointed investors.

Sainsbury's third quarter like-for-like grocery sales were surprisingly positive and group revenue was further lifted by recently acquired Argos as online sales proved a crucial factor over the key festive period.

Housebuilder Taylor Wimpey updated the market on its trading ahead of its full year results for the 2016 calendar year, which it said will be announced on 28 February.

Cineworld reported a jump in total revenue for the year to the end of December 2016 as it reached record admissions levels and said its performance overall is expected to be in line with current market views.

Aerospace and defence group Cobham posted group trading profit below guidance for the year ended 31 December and said it was not recommending a final dividend.

On the back of its strongest festive performance for seven years, Wm Morrison Supermarkets said it now expects full year profit to be ahead of market consensus.

Online fashion retailer Boohoo. com lifted its guidance for annual revenue growth following strong trading through Black Friday and into the Christmas season.

Gaming software development company Playtech said it expects results for the full year 2016 to be in line with market views as it announced that chief financial officer Ron Hoffman will become chief executive officer of the group’s financials division.

Centamin announced its preliminary production results for the quarter to 31 December from its Sukari Gold Mine in Egypt on Monday, with total gold production for the period of 136,787 ounces - an 8% decrease on the previous quarter and a 16% increase on Q4 2015.

Spread betting provider IG Group does not believe restrictions enforced by the French stock market regulator will have a “material negative impact” in its business in the country.

Economic news

The number of people jumping on the property ladder in 2016 rose to its highest level since before the 2008 financial crisis, according to Halifax.

UK construction output unexpectedly fell in November, according to official data published on Wednesday.

The UK trade deficit widened markedly in November due to surge in imports, according to data from the Office for National Statistics, sending the pound spiralling lower.

UK industrial production in November was much better than expected, data from the Office for National Statistics confirmed on Wednesday, with a strong rebound in North Sea oil and gas output and a cold snap driving heating demand.

The Bank of England does not see the risk of a significant tightening in financial conditions on the horizon, the Governor Mark Carney said.

UK economic growth slowed in the final three months of the year, according to the respected monthly analysis by the National Institute of Economic and Social Research.

Household incomes in the UK rose by £600 in 2016, narrowing the gap between the rich and the poor, according to the Office for National Statistics (ONS).

UK retail sales picked up in December, according to data from the British Retail Consortium released on Tuesday, as retailers began to pass on higher import prices to consumers.

Sterling was knocked to a two month low on Monday after traders interpreted comments from Theresa May as confirming the government is continuing to direct the country towards a 'hard Brexit' from the European Union.

UK house prices rose 1. 7% in December compared to a month ago to an average of £222,484, boosted by a continued shortage of properties and record low interest rates.

International events

US retail sales rose sharply at the end of 2016, led by strong demand for big-ticket automobiles but nonetheless fell short of forecasts as improved consumer confidence failed to translate into increased spending at the till.

Chinese trade was weaker than expected in December - a result which some economists labelled "concerning" - leading to the first shrinkage in the full-year surplus since 2011.

The Federal Reserve’s James Bullard has stuck to his view for just one more interest rate hike in 2017.

US consumer confidence dipped at the start of the year, as economists continued to try and make sense of the surge seen after the latest presidential elections, according to the University of Michigan.

Eurozone industrial production rose more than expected in November, according to the latest data from Eurostat.

The number of Americans filing for unemployment benefits rose less than expected last week, according to data from the Labor Department.

Outgoing US president Barack Obama has given an emotionally charged final speech in Chicago, in which he only mentioned president-elect Donald Trump by name once.

US president-elect Donald Trump has labelled the release of documents linking him with collusion with Russia and its president Vladimir Putin a 'disgrace', and admitted for the first time that he believes they were behind the hacking of the Democratic National Congress.

US job openings rose 1. 3% to 5. 52 million in November compared to a downwardly revised 5. 45 million a month earlier, according to the Labor Department.