Weekly review

The FTSE 100 ended the week up 37.17 points to 6,730.43.

Equity view

Royal Dutch Shell planned to continue investing heavily in Brazil over the next five years, with the aim of doubling its deep-water production by the early 2020s.

Shares in SIG plummeted nearly 20% on Friday, as the building products distributor issued a profit warning and announced that its chief executive has stepped down, as its like-for-like, third quarter sales fell.

FTSE 100 financial services group Prudential has agreed to sell its life insurance business in Korea, PCA Life Assurance, to Mirae Asset Life Insurance for £119m.

Astrazeneca shares edged lower on Thursday as it reported a worse-than-expected drop in third quarter revenue.

International private healthcare group Mediclinic announced its interim results for the six months to 30 September on Thursday, with a 27% increase in group revenue to £1. 28bn, of which 16% was contributed by Al Noor.

Dairy Crest reported a 19% increase in adjusted pre-tax profit to £19. 1m in the first half as the company underwent a restructuring.

FTSE 250 housebuilder Bovis Homes said it expects to deliver record revenues in 2016 as the backdrop for UK housebuilding continues to be positive, with demand for new homes outpacing supply.

Electricity infrastructure operator National Grid posted its half-year report on Thursday, with adjusted earnings per share of 28. 2p, flat compared to the same period last year, and operating profit of £1. 9bn, up 1% including favourable timing and the effect of foreign exchange.

Supergroup shares surged on Thursday after the FTSE 250 owner of clothing brand Superdry reported a bigger-than-expected jump in first-half revenue and said it expects full-year profit to be in line with market expectations of £84. 6m.

ITV’s revenues increased in the third quarter as it rebalanced the television network but advertising revenue was down due to political and economic uncertainty.

Global information services company Experian issued its half-yearly financial report for the six months to 30 September on Wednesday, with 5% organic revenue growth to $2. 24bn, which was in line with its board’s target range.

Energy wholesaler and retailer SSE posted its half-year results for the six months to 30 September on Wednesday, with its interim dividend increased by 1. 9% to 27. 4p per share.

Although it assured it was still confident of hitting full year targets, Sainsbury's underlying profits fell 10% in the first half of the year as like-for-like sales worsened and its pension deficit mushroomed.

Burberry’s profits slumped as the fashion house implemented a turnaround plan to cut costs and revamp its products.

Playtech said that although second-half trading had been ahead of last year, reported revenue has been hit by weakening of sterling and other currencies against the euro and apparent low market volatility.

Rio Tinto has suspended one of its senior executives after the company became aware of email correspondence relating to payments of $10. 5m to a consultant providing advisory services on the Simandou project in Guinea.

Imperial Brands reported a drop in profit for the year to end of September, but revenue rose and the FTSE 100 tobacco company upped its dividend by 10%.

Marks & Spencer held its interim dividend flat after first-half profits plunged as new chief executive Steve Rowe closed the defined benefit pension scheme and announced a £550m investment plan to close 113 stores in the UK and overseas to try and return the retailer to profitable growth.

BBA Aviation said third-quarter trading and cash flow remained in-line with its full year expectations, with revenue up 27% in what has been a transformative year to date.

Royal Bank of Scotland has agreed to refund around £400m of fees to smaller business customers hit by failings at bank’s former Global Restructuring Group subsidiary, while also launching a new complaints process to be overseen by a retired High Court judge.

FTSE 250 payment solutions provider Paysafe reiterated its guidance on full-year revenue and adjusted earnings on Tuesday.

UK's National Crime Agency (NCA) is leading a criminal probe into the recent cyber attack on Tesco Bank, which saw about 20,000 accounts raided by tech-savvy hackers.

Dignity’s results for the 39 weeks ending 23 September were slightly ahead of its expectations, driven by a higher number of deaths in the second and third quarters of the year, and the company said it expects operating profits for the full year to be ahead of market forecasts.

Ryanair reported a rise in first-half profit as revenue and customer numbers grew despite difficult market conditions, and the budget airline upped its long-term traffic forecast.

HSBC reported that profits in the third quarter fell 86% compared to last year due to the disposal of its Brazilian bank, but underlying profits were higher in all four of its business functions and better than the market expected.

Economic news

Bank of England has given UK lenders an additional two years to accrue enough funds so that they will not be reliant on taxpayer bailouts if they fail.

UK retail sales continued to strengthen in October, according to a survey by BRC-KPMG, helped by a change in fortunes for the clothing trade.

UK construction output hit its lowest level in four years in July to September, according to figures from the Office for National Statistics.

Liberal Democrat, Labour and SDLP MPs have told the BBC they are willing to vote against invoking Article 50 in Parliament.

UK industrial production surprisingly dropped in September, according to official figures, but manufacturing output was unexpectedly strong.

The jobs market has rebounded in October from a fall following the EU referendum, but a skills shortage and curbs on immigration could hamper supply, according to the Recruitment and Employment Confederation and Markit.

UK house price growth accelerated in October, supported by low borrowing costs and a shortage of properties for sale, Halifax revealed on Monday.

International events

The current and incoming presidents of the United States met in the White House on Thursday to discuss the transition of power from Barack Obama to newly-elected Donald Trump.

New York businessman Donald Trump became the 45th president of the United States following a shock victory over Democratic opponent Hillary Clinton in the 2016 election.

Chinese credit conditions tightened in October as so-called total social financing expanded by 896. 3bn yuan in October, following a surge of 1. 72trn in the month before.

The number of Americans filing for unemployment benefits fell more than expected last week, according to data released by the Labor Department.

Chancellor Philip Hammond said Britain would have a “constructive dialogue” with Donald Trump as he defended free-trade policies, which are at odds with the president-elect's protectionism.

The European Commission has cut its growth forecasts for the euro area and the European Union next year, saying risks are clearly tilted to the downside, as it pointed to the UK’s vote to leave the EU.

Chinese inflation rose in line with expectations in October while producer prices surged past forecasts, data showed on Wednesday.

Chinese exports shrank at a slower pace in October but continued to point towards challenges ahead on the foreign trade front for the country.

Eurozone retail sales declined less in September compared to the previous month than had been forecast, but year-on-year sales were lower than market expected, Eurostat revealed.