Weekly review

The FTSE 100 finished the week up 146.77 points, or 1.99%, at 7,511.71.

Equity view

Paysafe has recommended shareholders accept private equity groups Blackstone and CVC's £2.96bn cash offer, which would see investors in the online and mobile payments specialist receive 590p per share.

Budget airline easyJet reported a 9% jump in passenger numbers in July as the load factor ticked higher.

Education publisher Pearson said on Friday that it was slashing its interim dividend by 72% as it kicked off a restructuring programme that will involve cutting 3,000 jobs.

Majority state-owned Royal Bank of Scotland beat analysts' profit forecasts for the second quarter with the lender also announcing that it had picked Amsterdam as its post-Brexit hub for the European Union.

Medical products and technologies company ConvaTec saw group reported revenue rise 0.3% in its first half to $831.3m, it reported on Thursday, with constant exchange rate growth sitting at 2.1% and organic growth of 1.5%.

Paper and packaging company Mondi reported a drop in first-half profit on Thursday, mainly due to a significantly lower forestry fair value gain in South Africa and the impact of mill maintenance shutdowns.

Randgold Resources said it sustained its “strong performance record” on Thursday, with second-quarter results that its board claimed positioned it well to achieve its guidance for 2017.

London Stock Exchange group reported “strong financial performance” in its first half on Thursday, with income growth across all business areas and 23% AEPS growth.

AstraZeneca and its haematology research and development centre of excellence, Acerta Pharma, announced on Wednesday that the US Food and Drug Administration (FDA) has accepted and granted priority review for the New Drug Application (NDA) for acalabrutinib.

Nedbank Group - the majority-owned South African banking subsidiary of FTSE 100 firm Old Mutual - saw headline earnings decrease 2.9% to ZAR 5. 27bn in its first half, it said on Wednesday, although they improved 6.7% to ZAR 6. 43bn when excluding the performance of its loss-making associate ETI.

FTSE 250 builders’ merchant Travis Perkins posted a drop in first-half profits on Wednesday despite growing revenues, as it highlighted a challenging plumbing and heating market.

Smurfit Kappa saw its revenue improve 5% in its first half to €4.23bn, it reported on Wednesday, although EBITDA was off 4% at €569m.

Direct Line posted a 9.5% jump in first-half operating profit on Tuesday as gross written premiums rose 5% and the insurer bumped its dividend up by 39%.

International sales, marketing and business support services group DCC has acquired MTR - a “second lifecycle solutions” provider for mobile and tablet devices - it announced on Tuesday.

British Gas has hiked its electricity prices for households by a whopping 12.5% from mid September, parent company Centrica said on Tuesday alongside half-year results that showed adjusted earnings falling 11%.

Inspection, product testing and certification company Intertek described a first half of “strong” earnings growth and cash generation on Tuesday, with revenue improving 2. 7% and constant currencies and 13.9% at actual rates to £1.372bn.

International building materials group CRH has established a euro commercial paper programme, it announced on Monday, under which its wholly-owned finance subsidiaries CRH Finance DAC and CRH Finance UK could issue, from time to time, unsecured short-term euro commercial paper notes through appointed dealers.

IT-focussed professional services company FDM Group experienced “strong” trading and operational performance in its first half, it said on Monday, with revenue surging 35. 4% to £117.1m.

Independent pre-Caspian Basin producer, developer and explorer Nostrum Oil & Gas saw revenues rise handsomely in its first half, the company reported on Monday, with takings rising to more than $210m from $163.5m last year.

Manufacturing and engineering group Senior traded in line with expectations in its first half, it said on Monday, with revenue rising 3% on a constant currency basis to £510m.

Economic news

High Street sales were dampened in July by wetter weather, the school holiday exodus and as consumers' tightened their purse strings, according to the results of a widely-followed survey.

One of the government's schemes to support the housing market may be wound down within four years, industry reports suggested on Friday, sending housebuilding stocks lower.

UK services activity continued to gently improve last month amid the fastest increase in average prices for three months, according to a widely followed survey released on Thursday.

The UK economy will grow slower in 2017 than the Bank of England predicted only three months ago, monetary policymakers revealed on Thursday, as inflation is seen hitting a higher peak this year.

The cost of moving the European Medicines Agency (EMA) from London after Brexit has skyrocketed to £520m, it emerged on Wednesday.

A relaxation of certain stock market rules and regulations for sovereign-owned companies could damage London's reputation for strict enforcement of the best practices in corporate governance.

UK manufacturing activity picked up in recent weeks thanks to strongest growth of new export orders in seven years.

House price growth held up better than expected in July, according to the results of one of the most widely-followed surveys for the sector.

The UK financial watchdog plans a crack-down on unarranged overdrafts, following a nine-month review of the high-cost credit market amid warnings from the Bank of England to lenders about climbing levels of debt.

The number of UK companies showing signs of significant distress rose to its highest level for at least five years, insolvency experts said on Monday.

International events

Factory orders bounded ahead in the euro area's largest economy last month thanks to strong domestic demand, but economists said the underlying trends pointed to a "fragile" recovery.

America's economy continued creating jobs at a steady pace in July even as wage growth continued to remain moderate.

Russian prime minister Dmitry Medvedev has criticised new sanctions imposed on the country by the US, equating them to the declaration of a 'full-scale trade war'.

Economic growth in the Eurozone cooled a tad last month but nevertheless continued to grow at near its fastest pace in six years, the results of a widely-followed survey showed.

The US government is planning to take trade action against China, as worries grow in Donald Trump's administration over Beijing’s move to compete at the top level of international commerce.

US crude oil stockpiles fell last week despite a rise in imports last week, as refineries increased their runs, boosting prices for crude oil futures.

US President Donald Trump has sacked his communications director Anthony Scaramucci just 10 days after his appointment to the White House position.

Data released in China overnight appears to show the Asian giant's economy accelerated at the start of the third quarter, although economists appeared to be divided on the outlook.

US pending home sales rose more than expected in June, according to figures from the National Association of Realtors.

Annual inflation in the eurozone was steady in July, according to a flash estimate released by Eurostat on Monday.