Weekly review
The FTSE 100 ended the week down 117.91 points to 6,776.95.
Equity view
The Serious Fraud Office has charged three former Tesco executives with fraud as part of its investigation into a scandal that resulted in a £263m black hole in the retailer’s accounts.
Pub operator JD Wetherspoon posted its preliminary results for the year to 24 July on Friday, with revenue rising 5. 4% to £1. 595bn, and like-for-like sales improving 3. 4% over the prior year.
Pub company Greene King said it has made a strong start to the year, with like-for-like sales growth of 1. 7% in the 18 weeks to 4 September, but sounded a cautious note on the impact of the Brexit vote.
Market operator and information service provider ICAP appointed Seth Johnson chief executive of EBS BrokerTEC, ICAP’s foreign exchange and fixed income global markets division.
Zoopla Property Group said full year operating profits will be at the top end of current market expectations thanks to solid property trading and outperformance from its price comparison website in the third quarter.
Electronics retailer Dixons Carphone posted a trading update for the first quarter on Thursday, with group revenue up 9% year-on-year and like-for-like revenue improving 4% in the 13 weeks to 30 July.
FTSE 250 animal genetics company Genus posted an increase in pre-tax profit for the year to the end of June despite a small drop in revenue.
Babcock International has been awarded a five-year contract to support Qantas’ ground support equipment (GSE) fleet at 60 locations across Australia.
Investment management firm Hargreaves Lansdown reported a jump in full-year profit as assets under administration grew and the company announced that its chief executive Ian Gorham was stepping down.
CMC Markets said first half net operating income would be lower than last year, blaming a lower value of client trades on low levels of market volatility.
Industrial equipment rental company Ashtead Group’s revenue increased as it benefited from weak sterling in the first quarter, with management saying it expected full year results to be ahead of expectations.
FTSE 250-listed BGEO Group, the holding company of the JSC Bank of Georgia, has appointed Kakhaber ‘Kaha’ Kiknavelidze as chief executive of the bank.
Housebuilder and property developer Barratt Developments posted its annual results for the year to 30 June on Wednesday, with total completions rising 5. 3% to 17,319.
FTSE 100 listed budget airline easyJet increased passenger numbers by 6. 4% in August, compared to the same month the previous year, as the load factor, the number of passengers as a proportion of the number of seats available, increased by 0. 5%.
Ashmore´s full-year revenues and assets under management came under pressure during the company´s last financial year, even as management sounded an optimistic note on the prospects for the emerging market space.
Housebuilder and property developer The Berkeley Group Holdings issued an interim management statement for the period from 1 May to 31 August on Tuesday, as investors gathered for its annual general meeting.
Redrow surged on Tuesday as the FTSE 250 housebuilder reported a jump in pre-tax profit for the full year as revenue grew and the company lifted its dividend.
Cycling and motoring retailer Halfords increased revenue due to growth in bike sales and a recent acquisition.
Marks & Spencer has announced proposals to cut around 525 jobs as it looks to make savings following a detailed review.
British Gas owner Centrica has entered into a new five-year supply agreement with Qatargas for the purchase of up to 2m tonnes per annum of liquefied natural gas (LNG).
Budget airline Wizz Air increased passenger numbers by 16. 6% in August as it announced new routes to and from several central and eastern European countries and launched a new website.
Dechra Pharmaceuticals reported a jump in underlying profit for the year as revenue grew following a number of acquisitions.
Economic news
The UK’s deficit in trade in goods narrowed in July as exports improved, according to the first release of official data on trade since the Brexit vote.
Britons' inflation expectations moved moderately higher in August but were unchanged on longer time horizons, according to a Bank of England survey.
Permanent appointments rose in August following a slowdown in the lead up to the Brexit vote, according to a report by Markit/Recruitment and Employment Confederation (REC).
Confidence in the UK housing market has recovered moderately from its post-Brexit wobbles, RICS surveyors reported on Thursday, but numbers of both buyers and sellers remained in negative territory.
GDP growth in the three months to August slowed compared to the prior quarter, according to the National Institute of Economic and Social Research (NIESR).
The Monetary Policy Committee is tasked by parliament with adressing potential risks, not just talking about or watching them develop, Bank of England Governor Mark Carney told members of the Treasury Select Committee.
Manufacturers pulled back more than expected after the Brexit vote, although economists were wary of drawing too many conclusions from the data just yet - for better and for worse - especially when trying to project the medium-term trend.
UK house price dropped last month with annual inflation slowing to its lowest level in almost three years, according to Halifax's seasonally adjusted index, although this contrasted with other industry data.
Sales on Britain´s High Street slowed unexpectedly in August, widening the gap with respect to the official retail sales data for a fourth consecutive month and leaving experts divided on the outlook.
The United Kingdom experienced an improved growth of 3. 3% in new car registrations in August, despite economic uncertainty in the aftermath of Britain's vote to leave the European Union in June.
Prime Minister Theresa May has ruled out the possibility of a points-based immigration system for the UK, despite promises from Brexit campaigners to the contrary.
The UK services sector bounced back strongly last month after the sharp contraction in the weeks after the Brexit vote, according to a monthly survey of purchasing managers in the industry.
International events
Inflation in China registered a significant drop as food prices slowed sharply, but economists were confident that the slide would prove short-lived.
The European Central Bank downgraded its economic growth and inflation forecasts for 2017 slightly on Thursday as it announced it was keeping its policy unchanged.
US jobless claims unexpectedly fell to a two-month low last week, the Labor Department said on Thursday.
China’s trade surplus narrowed in August as imports unexpectedly rose and exports fell at a lesser rate than the previous month, the General Administration of Customs revealed on Thursday.
Commercial crude oil inventories Stateside registered a sharp drop in the latest week, alongside a large fall in imports, according to the Energy Information Administration.
President of the San Francisco Federal Reserve Bank John Williams reiterated his call for an increase in the Fed's interest rates "preferably sooner rather than later" and for a debate on the convenience of deploying a nominal GDP target.
Retail sales in the 19 countries that share the euro rose more than expected in July, according to the latest figures from Eurostat.
News that Russia and Saudi Arabia had agreed to work together to stabilise world oil prices sent crude futures sharply higher on Monday.
China service sector activity growth accelerated in August as new orders expanded and employment stabilised, a private survey revealed on Monday.