Weekly review

The FTSE 100 ended the week up 103.45 points at 6837.42.

Equity view

Croda has completed the acquisition of Brenntag Biosector - a specialist in the manufacture and supply of adjuvants serving both the human and veterinary vaccine markets - from Brenntag Nordic, it announced on Monday.

S4 Capital, the new venture set up by Sir Martin Sorrell, reported strong momentum in the final quarter of the year after wrapping up a new deal on Christmas Eve.

Shares in department store chain Debenhams were firmly in the red on Wednesday, kicking off 2019 in the doldrums ahead of its Christmas trading update next week, suggesting that investors are anticipating a disappointing performance.

Shares in electric car maker Tesla fell heavily after the company revealed disappointing fourth quarter delivery figures and announced a price cut.

China National Tobacco Corp, the world's biggest cigarette manufacturer, plans to list its international subsidiary on the Hong Kong stock exchange, according to filing documents.

Energean Oil and Gas said it had signed a $900m, 19 year gas sales deal with Israeli independent power producer IPM Beer Tuvia Ltd.

High street fashion retailer Next announced on Thursday that full-price sales for the Christmas trading period, between 28 October and 29 December, were in line with the guidance it issued in September, and were up by 1.5% year-on-year.

Budget airline Ryanair posted a 12% jump in traffic for December on Thursday.

US drugmaker Bristol-Myers Squibb reached a $74bn deal to acquire biotech group Celgene on Thursday in one of the largest acquisitions ever in the history of the pharmaceuticals industry.

Hikma Pharmaceutical confirmed the signing of an exclusive license, supply and distribution agreement with Beijing Sciecure Pharmaceutical Co.

Stonegate Pub Company enjoyed a merry Christmas period after like-for-like sales growth was up 7.8% in December on the back of a 17.8% surge in festive pre-bookings.

Gear4Music hit a bum note at the opening bell on Friday, crashing more than 50% as the retailer warned investors that full-year profits would now likely be "slightly below" the previous year as capacity constraints held back sales growth.

UK energy regulator Ofgem said it had banned independent supplier Economy Energy from taking on new customers until the company resolves its customer service issues.

Economic news

New European Union fishing rules coming into force in January could have “grave” impact on the UK’s fishing industry, a House of Lords committee warned on Monday.

UK government ministers have been criticised for whipping up a political storm around the small smattering of migrants crossing the English Channel since Christmas.

UK manufacturers reported an uptick in activity for the last month of 2018 as customers stockpiled to prepare against a potential no-deal Brexit.

Another New Year brought another round of fare increases for rail passengers across Britain on Wednesday, despite the National Rail network suffering its worst performance in 13 years in 2018.

Activity in the UK construction sector eased to a three-month low in December, according to figures released on Thursday.

The UK services sector reported its weakest sales growth in two years and manufacturers were having trouble recruiting qualified staff as Brexit concerns gripped the economy, the British Chambers of Commerce said on Thursday.

House prices last month fell in their steepest monthly drop for over seven years and with annual growth the slowest in almost five years.

Bosses of blue-chip companies were facing severe scrutiny after 'Fat Cat Friday' figures showed that they earn 133 times more than the average UK worker.

International events

North Korean leader Kim Jong Un sent US President Donald Trump a "letter-like" conciliatory message regarding nuclear talks.

Chinese manufacturing activity hit a near three-year low in December, according to official data released on Monday.

President Trump called on Democratic lawmakers to resolve a dispute over funding for extending the border wall with Mexico which had led to a partial shutdown of the US federal government just under a fortnight before.

Factory sector conditions in China weakened further at the end of 2018 with companies continuing to pare their headcount and to trim prices amid soft demand conditions, the results of one of the most widely-followed surveys revealed.

A key gauge of factory sector conditions in the United States hit an over two-year low in December amid uncertainty over the tariff war with China.

Irish Prime Minister Leo Varadkar warned on Thursday that any alterations to the UK’s Brexit deal cannot undermine the Irish backstop, which acts as an insurance policy to avoid a hard border between Northern Ireland and The Republic of Ireland.

A fresh batch of trade talks between the US and China is set to start on Monday to see where the tensions stand after agreeing to a 90-day truce in early December of 2018.

China's central bank has loosened requirements for lenders increase in an effort to increase available financing for small and privately-owned businesses, it said in an unscheduled announcement on Friday.