Weekly review

The FTSE 100 ended the week 174.51 points lower at 7,069.90.

Equity view

Alfa Financial Software on Friday said it had won a new contract with an unnamed global equipment manufacturer and finance group.

Engineer GKN, which is currently fending off a £7.4bn hostile bid from turnaround specialist Melrose Industries, confirmed on Friday that it has engaged in talks with US-based Dana about a potential sale of its automotive division, Driveline, as part of a deal which would be effected mainly in equity.

Land Securities on Friday said chairman Alison Carnwath would retire from the board in 2018 after nine years in the role.

Takeaway food delivery marketplace Just Eat announced on Friday that its board has appointed Mike Evans to the role of non-executive chairman, with effect from 26 April.

Asset manager Schroders posted a 23% jump in full-year pre-tax profit on Thursday as assets under management and net inflows rose amid growth across the group.

Irish building materials group CRH generated an acceleration in profits growth towards the end of the year and saw good potential for more in the US and Europe in 2018.

PureCircle announced on Thursday that its US division and Sweet Green Fields have settled a dispute before the International Trade Commission on the importation of products that were alleged to infringe PureCircle's patents.

Russian steel and coal producer Evraz said full year consolidated earnings increased by 70% to $2.6bn on the back of higher prices.

Premier Inn and Costa owner Whitbread has announced the acquisition of a portfolio of 19 hotels in Germany from Foremost Hospitality Group for an undisclosed sum.

Insurer Admiral posted a 43% jump in full-year pre-tax profit on Wednesday and declared a special dividend amid record customer numbers.

Business information, exhibitions, events and academic publishing group Informa issued its financial results for the 12 months ended 31 December on Wednesday, reporting a third consecutive year of growth in revenue, adjusted profit, adjusted earnings per share, cash flow and dividends.

Wealth management group St. James's Place issued its annual results for the year ended 31 December on Wednesday, reporting European embedded value (EEV) new business profit of £779.8m - a 50% improvement year-on-year.

Speciality chemical company Croda International reported a record full-year profit on Tuesday as sales grew thanks to a strong performance across sectors and regions.

FTSE 250 challenger bank Virgin Money reported a 28% increase in underlying full-year profit on Tuesday amid robust customer demand and growth across its core products, although it warned that net interest margins for 2018 will be at the lower end of the range.

Greggs served up some steamy numbers to shareholders on Tuesday, with total sales up 7.4% in its preliminary results to £960.0m.

Car dealer Inchcape said full year pre-tax profit rose by 33% to £370m on a constant currency basis due to a strong distribution performance in Asia and emerging markets.

FTSE 100 property development and investment company Hammerson - which announced a £3.4bn takeover of Intu Properties in December - reported a rise in full-year pre-tax profit on Monday as net rental income jumped 7%.

Vodafone Group announced on Monday that it will become Samsung's exclusive strategic telecoms partner in selected European markets, to develop and launch a range of consumer ‘internet of things’ (IoT) smart home product and services.

Mining giant Anglo American has completed the sale of the Drayton thermal coal mine and Drayton South project in New South Wales, Australia, to Malabar Coal Limited, with the terms of the transaction remaining confidential.

Renewable infrastructure fund Greencoat UK Wind told investors on Monday that power generation across its portfolio had been in line with its budget for the past calendar year, keeping the firm on track for its dividend and capital growth targets.

Economic news

Theresa May discussed what she referred to as a set of "hard facts" regarding Britain's departure from the European Union while delivering her next big Brexit speech at Mansion House in London on Friday.

Sainsbury’s chief executive Mike Coupe has warned that Brexit could lead to a food shortage in there is no trade agreement with the European Union.

A growing gap in life expectancy between the rich and the poor in England should force the government to shelve its plan to raise the state pension

Consumers borrowed an extra £1.4bn in January as increased credit card lending more than offset a reduction in other loans and advances, Bank of England figures showed on Thursday.

The UK government has been accused of being partly to blame for shortfalls on a nuclear clean-up contract that wound up costing taxpayers as much as £122m in legal expenses.

UK consumer confidence slipped lower in February, according to a widely followed survey released on Wednesday.

The head of the Financial Conduct Authority has warned consumer lenders to treat customers fairly as the watchdog seeks to clamp down on high-cost credit for vulnerable borrowers.

CO2 emissions from new cars sold in the UK have risen by 0.8% per new vehicle, the UK car industry claims.

Shona Robison, Scotland’s health secretary has announced that all alcoholic beverages in Scotland must cost a minimum of 50p per unit of alcohol from May 2018.

Jeremy Corbyn's speech on Monday, where he was set to outline his party's shadow Brexit policy, could see the Labour leader pave the way for a mutiny within Conservative ranks, led by a small number of pro-Europeans in Theresa May's cabinet, potentially derailing the PM's strategy if he was to echo sentiments made by his MP's and senior spokesmen of Labour lending their support to a post-Brexit customs union with the EU.

International events

The White House denied on Thursday night that it might replace national security advisor McMaster as early as the end of this month, in what would be the latest move in a long string of staff shake-ups and strained relations between McMaster and the president.

The Bank of Japan will begin to ponder how to exit its ultra-loose monetary policy at some point next year, if justified by economic conditions, next year, Governor Haruhiko Kuroda said.

Putin has vowed to halve levels of poverty in Russia within the next six years, labelling the current situation as "unacceptable" in his annual speech before the two chambers of the Russian parliament.

Growth in the US economy’s manufacturing sector unexpectedly rose in February, according to data from the Institute for Supply Management.

Inflation in the eurozone eased to 1.2% this month from 1.3% in January, in line with expectations, according to a flash estimate from Eurostat on Wednesday.

The weak prints on two closely-followed surveys of activity in China's economy for February likely overstate the extent of the slowdown seen during the month of February, economists said, possibly as a result of the Lunar New Year holidays.

In his first remarks as the new head of the US central bank, Jerome Powell appeared to strike a balance between pointing to continuity with his predecessors and a slightly less hawkish take on then current inflationary pressures and the Federal Reserve's policy bias.

The cost of living in Germany rose less quickly than expected in February as gains in energy and food prices slowed materially.

New home price gains in China accelerated last month even as those in the country's major cities registered their first decline in over two years.

Sales of new US single-family homes unexpectedly fell in January, according to official figures released on Monday.