Weekly review

The FTSE 100 ended the week down by 30.84 points at 7,013.55.

Equity view

William Hill’s shareholder Parvus Asset Management said late on Thursday that it opposed the bookmaker’s £4.5bn merger with Canada’s Amaya.

Man Group reported a jump in third-quarter funds under management and announced an agreement to acquire real asset manager Aalto Invest Holding AG.

Provident Financial´s performance during the third quarter was in-line with management´s own expectations, the company said in a statement.

Over 50% of independent Sky investors voted against the return of James Murdoch as chairman at the annual general meeting (AGM) on Thursday, over concerns about board independence and the phone-hacking scandal.

Rank Group, which operates Grosvenor Casinos and Mecca bingo halls, reported flat interim revenue on Friday as it reiterated its full-year expectations.

As supermarkets pulled Marmite and several of its other brands from their shelves over a pricing dispute, Unilever on Thursday posted forecast-beating underlying sales and a 28. 9p dividend amid tough third-quarter conditions

Sports Direct will part company with chief financial officer (CFO) Matt Pearson at the end of the year, with the announcement coming less than week after the troubled sports retailer delivered yet another profit warning.

Book, stationery and news retailer WH Smith posted its preliminary results for the year to 31 August on Thursday, with group profit before tax up 8% to £131m and diluted earnings per share 10% higher at 93. 9p.

FTSE 250 food wholesaler Booker, which owns Londis and Budgens, reported a jump in interim sales and profit as it hiked its dividend and expressed confidence in achieving its full-year expectations.

Paper and packaging group Mondi reported an increase in third-quarter underlying operating profit compared to a year ago and said it expects to be benefit from higher selling prices as it moves into 2017.

Subscription broadcaster and broadband provider Sky posted an update to its first quarter trading on Thursday, with group revenue up 7% to £3. 1bn and like-for-like revenue up 5%.

Hargreaves Lansdown’s first quarter revenue increased but the financial services company was affected by low investor confidence in the wake of the Brexit result from the EU referendum as new business flows fell.

Lloyds Banking Group plans to axe 1,230 jobs as it looks to cut costs and improve shareholder returns as part of its three-year strategy.

Shares in Premier Foods tumbled on Wednesday after it warned that first-half trading profit was likely to be slightly below the previous year and posted a drop in second-quarter sales due to warmer weather.

Precious metals miner Fresnillo reported an increase in silver and gold production during the third quarter at its Mexico mines on Wednesday, while the turnaround plan at the company continued to progress, but not at the pace expected.

Domino’s Pizza said on Wednesday that it continued to trade well in the third quarter, building on the company’s “very strong” first half.

Profits fell 20% in the first half of the year for specialist-fit clothing retailer N Brown, but this was ahead of consensus forecasts and followed a recovery in sales in the second quarter.

Retirement housebuilder McCarthy & Stone said trading had improved in the first few weeks of the financial year in comparison to the sharp fall it experienced after the Brexit vote, as the company announced that its chief financial officer was stepping down after five years.

FTSE 250 recruitment firm PageGroup reported a rise in total third-quarter profit but a drop in the UK, as it expressed caution following the result of the EU referendum.

Fashion retailer Ted Baker reported a jump in interim profit as revenue grew and the company lifted its dividend following a good performance across all channels, despite challenging trading conditions.

Vedanta Resources posted its production results for the second quarter and half-year to 30 September on Monday, with some solid improvements in its oil and gas division.

Economic news

UK house prices fell at the fastest rate in five years, with several regions hit by declining prices and Yorkshire, Humber and London the worst hit, Halifax revealed.

UK mortgage lending rebounded strongly in August, according to CML, though this runs counter to other recent housing market data.

UK retail sales unexpectedly rebounded in September as strong growth in food spending counterbalanced weather-weakened clothing sales, according to a closely followed survey, BRC revealed.

Bank of England Governor Mark Carney has said inflation will rise on products due to the drop in the value of the pound following the Brexit vote.

Construction output in the UK fell sharply in August. Total production sank at a 1.5% month-on-month clip, according to the Office for National Statistics, and by 0.2% versus the prior year month.

RICS surveyors reported an unexpected increase in house prices in the last three months as demand rose but the supply of new homes for sale dropped off and numbers for sale in London dropped to a historic low.

A ‘hard Brexit’ could cost the Treasury up to £66bn a year in revenue from tax, according to leaked documents.

Growth in the UK services sector slowed in the third quarter but the manufacturing sector improved, according to a survey by BCC published on Monday, although more businesses in both sector cut their expectations for hiring and investment.

International events

Consumer sentiment in the US unexpectedly deteriorated in October, according to preliminary figures released on Friday by the University of Michigan, dropping to its lowest level since last September and the second-lowest in the past two years.

US retail sales rose 0.6% in September, according to data from the Commerce Department.

The cost of living in China snapped back in September as food price inflation heated up while factory gate prices moved out of deflation.

US crude oil stockpiles jumped last week, pushing crude oil futures higher, albeit alongside sharp drops in product inventories.

The US central bank will likely have enough data to back-up the need for a rate hike at its December policy meeting, a top official Patrick Harker said, adding that the possibility of a move in November should not be dismissed either.

Initial unemployment claims in the States remained at their lowest level since the tail-end of 1973 during the latest week.

China’s trade surplus unexpectedly shrank in September as exports plunged more than anticipated.

Rate-setters in the States had moved closer to another interest rate hike, the minutes of the US Federal Open Market Committee´s last policy meeting revealed.

Eurozone industrial production rebounded surprisingly strongly in August, according to the latest data from Eurostat.