Weekly Review

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Sharecast News | 29 Aug, 2014

The FTSE 100 Index finished up 44.5 points on the week at 6,819.75.

The FTSE 100 Index finished up 44.5 points on the week at 6,819.75.

Equity view

Technological company Exova reported a wider first-half loss as revenue fell on headwinds in aerospace and transportation sectors

Royal Bank of Scotland said its customer complaints were down by a quarter in the first six months of 2014, as cases of mis-sold loan insurance declined.

Jardine Lloyd Thompson Group said it is expanding its US speciality capabilities and merging its JLT Speciality and Lloyd & Partners businesses.

Satellite communications services group Inmarsat has received a payment totalling $9.1m from Lightsquared, but said future payments from the firm continued to be "subject to significant uncertainty".

Entertainment One has completed the acquisition of Canadian television producer Force Four Productions

Barclays said customer complaints fell by a quarter in the first six months of 2014, as cases of mis-sold loan insurance declined.

Gold miner Pan African Resources blamed low-grade gold ore and a one-off gain on an acquisition last year for a profit warning.

Oil explorer Afren saw its shares go down on Friday after announcing further directors' suspensions.

Property group British Land announced that a joint venture of its part-owned Hercules Unit Trust (HUT) has seen six new lettings at its Gallagher Retail Park in Cheltenham.

West and east African oil & gas explorer Ophir Energy has embarked on a board shake-up as part of a cost-cutting drive.

CSR's stock gained over a third on Thursday after the wireless technology firm confirmed rumours that it had received a takeover offer.

Engineering group Rolls-Royce has won a deal of undisclosed value to provide cranes for ships used to take supplies to oil rigs.

A TNT advert was banned on Wednesday following a Royal Mail complaint over misleading information.

The spectre of higher interest rates and a clampdown on irresponsible mortgage lending is set to hit second-half trading at Foxtons, the estate agent group warned on Wednesday.

Antofagasta, the Chilean copper producer, saw its profit before tax for the period ended 30 June fall from $981m to $850.7m due to lower copper output and prices.

Economic news

British consumer confidence rose this month but rises are starting to flatten out and people are uncertain about their prospects, a survey on Friday showed.

Bonus payments rose 4.9% to £40.5bn in the year to April 2014, driven by the private sector, the Office for National Statistics said on Friday.

House prices inched just 0.1% higher in August, according to Hometrack's monthly national housing survey.

UK gross domestic product is expected to grow this year by 3.2%, the highest growth in seven years, the British Chambers of Commerce (BCC) has revealed.

House prices inched just 0.1% higher in August, according to Hometrack's monthly national housing survey.

Nearly half a million of Britain's home owners are now 'property millionaires' according to property website Zoopla.

The UK services industry slumped to its slowest growth in a year in the last three months, according to a survey out on Tuesday.

British savers stashed more cash in their bank accounts last month following changes in this year's Budget, according to industry figures released on Tuesday.

International events

McDonald's has temporarily closed a dozen of its Russian branches after the fast-food chain came under scrutiny from Russian authorities.

The United Nations (UN), Nato, the US and EU leaders held various meetings between Thursday and Friday, as the west seeks to address the crisis in Ukraine, threatening Russia with more sanctions.

The rate of consumer price inflation in the euro area slowed to a 0.3% year-on-year pace in August, according to preliminary data from Eurostat.

Apple plans to unveil its highly anticipated wearable device iWatch on 9 September to compete against Samsung's Galaxy Gear, reports said.

The crisis in Pakistan deepened on Thursday as talks between the government and the opposition failed to deliver tangible results.

Russia has "well over a thousand", a senior Nato official said on Thursday.

Eurozone economic confidence fell more than recently downgraded forecasts in August, according to data for August published by the European Commission on Thursday, while business confidence remained flat.

An indefinite ceasefire between Israel and Gaza began on Tuesday night, as both parties agreed to bring the seven-week conflict to a halt.

Apple will release a 12.9-inch iPad by Christmas next year, according to reports.

German consumers' confidence is expected to slip slightly in September, according to consultancy GfK.

Longer-term sovereign bond yields in the Eurozone fell back sharply on Monday after European Central Bank President (ECB) Mario Draghi called for more fiscal coordination at the euro-area level and increased fiscal stimulus to ward off the threat from slowing price rises.

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