Weekly review

London's FTSE 100 ended the week 72.16 points higher at 7,282.34.

Equity view

India's Tata Steel is set to close its factory in Newport, south Wales risking leaving around 380 people unemployed.

Just Eat was under pressure on Tuesday as it emerged that shareholder Eminence Capital, a US asset management firm, intends to vote against its planned £9bn merger with Dutch peer Takeaway.com.

Restaurant Group said on Tuesday that it swung to a first-half loss following its takeover of Wagamama but posted a surge in revenue and said trading remains in line with its expectations for the year.

Tesco has sold its mortgage portfolio to Lloyds Banking Group for around £3.8bn in cash.

CYBG, the owner of Clydesdale Bank, Yorkshire Bank and Virgin Money, said on Wednesday that it received "unprecedented volumes" of information requests ahead of the payment protection insurance complaints deadline.

Royal Bank of Scotland said a last minute higher-than-expected spike in claims for payment protection insurance claims would result in an extra charge of £600m to £900m in the third quarter.

Halfords warned on profits on Wednesday, pinning the blame on weak consumer confidence and the weather, as it reported a drop in sales.

Homeware retailer Dunelm defied the high street gloom as it reported a jump in full-year profit and announced a special dividend but struck a cautious note on the outlook amid Brexit-related uncertainty.

Ticket reseller Viagogo has addressed the Competition and Markets Authority's outstanding concerns regarding how it presents important information to its customers in the face of further legal action by the industry watchdog.

Boohoo shares surged on Thursday as the fast-fashion retailer lifted its full-year guidance following strong revenue growth in the first half.

Amazon was accused of not paying enough UK tax after coughing up just £220.0m in 2018 despite having reported revenues of £10.9bn.

Telecommunication company Inmarsat has lost a ruling over tax deductions it booked in the mid-1990s for the launch costs of some of its satellites.

British transport firm Go-Ahead Group reported lower annual pre-tax profits on Thursday after earnings from its rail unit almost halved following the loss of its London Midland franchise.

Specialist media publisher Future said it expected full year core earnings to be “materially ahead” of expectations driven by trading in the US and forex benefits in the final quarter.

G4S shares surged on Friday following a report that US cash-handling business The Brink's Company could make a £1bn bid for the security services firm's cash solutions arm.

SIG reported a slump in interim profit on Friday, with revenue down amid falling construction activity in the UK and Germany.

Economic news

UK Prime Minister Boris Johnson on Monday vowed to purge Conservative rebels, including former ministers such as Philip Hammond, from his party if they vote against a no-deal Brexit on Thursday.

The British pound was under pressure on Monday as traders prepared for a potentially messy week of Brexit debate after a weekend filled with speculation that there may be an early election.

Britain’s biggest environmental groups have written to Chancellor Sajid Javid on Monday to request that the £17.0bn budgeted for the fight against climate change over the next three years be more than doubled to £42.0bn.

A key gauge of UK manufacturing sector conditions hit a more than sever-year low last month as "high levels" of economic and political uncertainty both at home and abroad took their toll and confidence in the outlook plumbed its lowest ever reading.

Prime Minister Boris Johnson said he would seek approval for a snap election after a humiliating parliamentary defeat on Tuesday that saw 21 Tory rebels defy threats of deselection and join the opposition in moving to stop a no-deal Brexit.

The first phase of the HS2 high-speed railway connecting London and Birmingham could be delayed by up to five years as costs grow.

UK MPs rejected Boris Johnson's call for an early general election as the prime minister faced more humbling defeats in parliament on Wednesday.

Growth in the UK's services sector practically ground to a halt in August as Brexit concerns took their toll, putting the country on course for a recession, according to data released on Wednesday.

British finance minister Sajid Javid was accused of “grubby electioneering” on Wednesday as he unveiled a one-year spending review for the first year outside membership of the EU.

The Bank of England has dialled back on its estimates for the worst case scenario for Brexit on the back of the preparations made by businesses since the end of 2018.

Sterling gained ground on Thursday, ticking above the $1.23 mark as investors welcomed Prime Minister Boris Johnson's triple defeat in Parliament, although some analysts were sceptical the rally can continue.

International events

Chinese manufacturing sector conditions strengthened in August amid higher levels of output, even as firms' confidence in the outlook registered one of its softest readings ever, the results of a closely-followed survey revealed.

America is doing well in its negotiations with the People's Republic of China and has nothing to gain by waiting until the next elections, the US President said on Tuesday.

The European Union's new executive will not grant America's tech giants any tax relief and will devise new laws to regulate the companies and artificial intelligence technology, the Wall Street Journal reported on Tuesday.

European Trade Commissioner Cecilia Malmstrom said cars made in the EU don’t pose a threat to US national security and shouldn’t be the target of American tariffs.

Cabinet members from the new coalition government formed in Italy between the anti-establishment Five Star Movement and the centre-left Democratic Party was sworn in on Thursday.

Hong Kong Leader Carrie Lam announced on Wednesday that she was withdrawing an extradition bill granting Beijing the power take people away into what some critics said was China's opaque legal system.

Top trade officials from the US and China will hold face-to-face talks in coming weeks despite skepticism that any substantial progress will be made.

Iranian President Hassan Rouhani has ordered the removal of limits on nuclear research and development in the country just hours after US President Donald Trump said that he would be open to meeting the Iranian leader.

China's central bank on Friday announced a reduction in the reserves that banks are required to keep on deposit in a fresh move to stimulate the nation's economy.