Weekly review

London's FTSE 100 ended the week up by 123.97 points at 7,228.28.

Equity view

Shares in Commerzbank and Deutsche Bank surged on Monday due to speculation that Germany’s biggest banks are in merger talks.

Boeing shares plummeted by on Monday after China and Indonesia decided to ground their 737 Max 8 jets made by the American aerospace giant in the wake of a catastrophic Ethiopian Airlines crash at the weekend that killed all 157 people on board.

Fashion chain Superdry has urged its shareholders to vote against the appointments of co-founder Julian Dunkerton and Peter Williams as directors at a general meeting due to be held next month.

Debenhams said it is in "advanced negotiations" with its lenders to put in place a new £150m bank loan, it said on Monday.

Shares in Kier Group crashed as the construction company revised up its net debt position.

Computacenter posted a jump in full-year profit on Tuesday as revenue exceeded £4bn for the first time, with strong growth in the UK and Germany.

Online gaming group 888 Holdings reported a strong improvement in annual profits despite UK regulatory pressures hitting revenue, and said "positive momentum" had continued into 2019.

Biogen has entered into a share purchase agreement with Fujifilm Corporation under which Fujifilm will acquire the shares of Biogen’s subsidiary for up to $890m in cash, subject to minimum purchase commitment guarantees and other contractual terms.

Petrofac's shares climbed on Wednesday after it was awarded a 42-month contract worth around $1bn for the Ain Tsila Development Project in Algeria.

Prudential thanked its Asian business for a jump in annual profits as the blue chip insurer updated investors on plans to spin off its UK savings and investment arm.

The Financial Conduct Authority has fined Dixons Carphone more than £29m for insurance mis-selling.

Wm Morrison Supermarkets declared a 4p special dividend to celebrate a third consecutive year of strong sales and profit growth.

Hikma Pharmaceuticals grew 2018 sales and profits much more than it had expected at the start of last year, but final numbers and guidance for 2019 from the speciality and generic drug maker were both a little short of upgraded market forecasts.

Beleaguered industrial group General Electric has warned that earnings will fall in the current year, as it grapples with ‘complex’ challenges across the business, before its recovery starts to take hold in 2020.

A US jury has awarded $29m to a woman who claims her cancer was caused by Johnson & Johnson talcum powder.

Sports Direct has offered Debenhams an alternative to the £150m loan it is seeking, with the proviso that Mike Ashley would take over as chief executive.

Profits at Cineworld surged in 2018 as the company reaped the benefits of its Regal Entertainment acquisition.

Spirax-Sarco Engineering has agreed to buy electrical thermal solutions business, Thermocoax, for €158m (£139m).

Restaurant Group shares surged on Friday as its full-year pre-tax profit came in ahead of expectations despite an 8% drop, and the company reported an uptick in total sales.

Profits at JD Wetherspoon fell 18.9% in the first half of its trading year as a big jump in labour costs outweighed an increase in sales for the pro-Brexit pub chain.

National Grid confirmed on Friday that it had submitted its response to Ofgem on the sector specific methodology consultation for ‘RIIO-T2’.

Economic news

Theresa May “secured legally binding changes” to her Brexit deal during a hastily arranged trip to meet European Commission president Jean-Claude Juncker in Strasbourg on Monday night.

The UK’s buoyant employment figures could be hiding earning warning signs of an economic downturn, a report published on Monday has suggested.

British MPs sank Theresa May's Brexit deal for a second time by an emphatic 149 votes as the prime minister conceded to a free vote on Wednesday on whether the UK should leave the European Union without a deal.

UK MPs defied Theresa May and voted to rule out a no-deal Brexit on Wednesday in dramatic scenes, sending the pound climbing higher on Wednesday night.

The Chancellor of the Exchequer announced plans to launch a three-year spending review if a Brexit deal can be agreed, as he warned MPs of the dangers of crashing out of the European Union.

MPs voted on Thursday to delay Britain's exit from the European Union for at least three months in another night of chaotic scenes at Westminster.

Eurosceptics in parliament have rejected attorney general Geoffrey Cox’ latest legal advice on the Irish backstop, which was updated in order to try and finally get a divorce deal through parliament.

The UK government is locked in talks with Northern Ireland's Democratic Unionist Party to seek backing for Theresa May's Brexit plan ahead of a third 'meaningful vote' next Tuesday.

International events

Oil prices ticked higher on Monday after Saudi Arabia said it would produce less than 10m barrels a day in April as it continued to throw its weight behind Opec supply cuts.

The Algerian economy is set to suffer, regardless of how the current political unrest plays out, according to Capital Economics.

Chinese Vice-Premier Liu He and his US counterparts continued negotiations for a US-China trade agreement by phone on Tuesday morning, according to Chinese state-run news agency Xinhua.

Huawei's founder said on Wednesday that Trump's views on foreign investments in the US "were all wrong" and his administration should not single out the Chinese tech company or risk damaging America's international reputation.

German leader Angela Merkel was reported to be relaxed about Britain's ability to secure a Brexit delay from European Union.

E-cigarette sales in the US will be restricted, according to U-turn announced by regulators on Wednesday and backed by President Trump.

US President Donald Trump said that he is in “no rush” to sign a pact with China and that he would walk away from talks if any new trade deal is not to his liking.

Trump also flagged up his hopes for a post-Brexit trade deal with the UK, as British politicians continued to fight over the country’s departure from the European Union.

US industrial production eked out just a small gain last month, with output in manufacturing hit by a slide in business equipment.

North Korean leader Kim Jong Un is close to deciding whether to halt denuclearisation talks with the US after President Donald Trump walked away from negotiations in February, according to a North Korean diplomat.