Weekly review

The FTSE 100 finished the week 29.42 points higher at 7,322.92.

Equity view

Satellite telecommunications firm Inmarsat was selected by US telecoms giant AT&T as a "core team member" for an emergency services broadband network.

Multinational media distribution company Entertainment One updated the market on its performance for the year to 31 March on Friday, with the board claiming “strong” growth in both reported revenue and underlying EBITDA for the year.

AstraZeneca said it completed an agreement with TerSera Therapeutics for the commercial rights to its cancer treatment Zoladex in the US and Canada.

Electra Private Equity completed the sale of console and mixing desk maker Audiotonix to French buyout group Astorg for £203m.

Betting and gaming company William Hill announced on Thursday that Ruth Prior would be appointed chief financial officer, effective later in the year.

Online electrical goods retailer AO World said on Thursday that it full-year trading is anticipated to be in line with its range of expectations, as it announced a placing to raise up to £50m.

Diploma said it expected group first half revenues to be around 20% ahead of the comparable period, boosted by the impact of the “substantial depreciation” in UK sterling.

Tobacco company Imperial Brands said it remained on target to hit first-half targets, with both revenues and earnings set to be up strongly at the reported level thanks to the weak pound.

Digital automotive marketplace Auto Trader appointed Nathan Coe as chief operating officer and executive director with effect from 1 April.

Insulation and roofing supplier SIG revealed that chairman Leslie Van de Walle has decided to retire and that new chief executive Meinie Oldersma will take up his position and be admitted to the board next Monday.

Holiday tour operator TUI said current winter and summer 2017 were trading in line with expectations and reiterated its guidance of at least 10% growth in group underlying earnings before interest, tax and amortisation in 2016/17.

BHP Billiton iron ore chief Edgar Basto warned that the supply of low-cost seaborne iron ore is expected to grow faster than demand, but assured that company is well-positioned to continue to grow value and shareholder returns.

Aerospace and defence group Cobham confirmed on Tuesday that it plans to raise around £512.4m through a rights issue as it looks to pay down debt.

Vehicle membership services provider AA posted its results for the year to 31 January on Tuesday, with trading revenue up 1.6% at £940m.

North West water company United Utilities said current full year trading was in line with expectations with underlying profit forecast to be “moderately higher” than 2015/16.

Card Factory’s full year revenue increased as new store openings matured and it hiked its dividend, although it was affected by the overall slump in the retail sector.

Old Mutual struck a deal to offload almost half of its stake in its asset management business for $446m.

Greencoat UK Wind announced on Monday that it acquired Langhope Rig Wind Farm from GE unit, GE Energy Financial Services, for a total consideration of £39.8m.

Energy services firm Wood Group extended its North Sea contract with explorer Premier Oil for a further two years in a deal worth $50m and which will secure more than 150 jobs.

FirstGroup won the seven-year contract from the UK Department for Transport to operate trains on the South Western rail franchise, with rival Stagecoach among those missing out.

Economic news

UK house prices fell month-on-month this month for the first time in almost two years, according to a survey by Nationwide, knocking the annual growth to a 19-month low and adding to economist's predictions that growth will moderate over 2017.

UK gross domestic product for the last quarter of 2016 was confirmed at 0. 7%, disappointing some economists after recent upgrades to production and manufacturing data.

Insurance market firm Lloyd's of London said it will relocate some 100 staff to Brussels in an attempt to maintain its presence in the European Union post-Brexit.

UK economic sentiment in March rose to its highest level in 18 months, with business confidence improving in the services, retail and construction sectors, while remaining high in industry.

UK mortgage approvals unexpectedly declined in February, according to figures released by the Bank of England.

David Davis said that Northern Ireland will be able to rejoin the European Union if it was to vote for a reunification with the Republic of Ireland, according to leaked government reports.

The UK should leave the European customs union entirely and avoid a “half-in, half-out, compromise a pro-Brexit think tank warned.

British consumers increasingly believe the economy will be worse off after Brexit, with a new survey finding just 29% people feel separation from the European Union will have a positive effect on the state’s prosperity.

In its 2017 stress test, the Bank of England will scrutinise the UK's biggest banks for their ability to cope with an interest rate hike and a seven-year continuation of the industry's current headwinds to profitability.

Ahead of Prime Minister Theresa May’s triggering formal divorce proceedings with the European Union on Wednesday, industry bodies from the food sector called on Monday for the government to secure a trade deal before the country leaves the bloc.

International events

China's economic performance continued to exceed forecasts in March, the results of two key activity surveys revealed, although some economists continued to harbour doubts regarding the sustainability of the current pace of expansion.

Eurozone inflation in March retreated more than expected, according to data published on Friday, after a prolonged period of rising prices.

Economic sentiment in the euro area dipped slightly in March as the readings for France and Spain fell back, although for the first quarter as a whole it pointed to an implausibly strong growth spurt, according to some economists.

The cost of living in Spain fell sharply in March as gasoline, fuel oil and electricity prices retreated instead of rising as they did during the same month one year ago.

French consumer confidence was stable in March amid slight improvements in people's expectations for unemployment and their ability to save, the results of a survey revealed.

Barack Obama's introduction of several internet privacy provisions shortly before his departure from the Oval Office has been reversed by the US Congress following a vote on Tuesday.

Home price gains in the US accelerated slightly at the beginning of the year, reaching their fastest pace in over two years.

America cut its trade shortfall with the rest of the world in February, amid a sharp drop in the pace of purchases of automobiles and consumer products from overseas.

German business confidence unexpectedly improved in March, according to a widely-followed survey.

South Africa's rand tumbled sharply after finance minister Pravin Gordhan was recalled by President Jacob Zuma.