Weekly review

The FTSE 100 ended the week down 38.32 points at 5,963.57.

Equity view

Gambling software company Playtech has confirmed that it is in talks with a number of parties about the possible sale of its financials division, TradeTech.

Resolute Mining reported a 33% improvement in revenues in its first half on Friday, to $305.29m (£230.24m), as its EBITDA surged 85% year-on-year to $101.11m.

Avon Rubber said on Friday that the US Department of Defence has announced the award of a dual source contract to supply replacement M61 filters for the M50 mask system.

Amigo Holdings said it had enough liquidity to survive as the troubled guarantor lender reported a sharp fall in first-quarter profit.

Flutter Entertainment posted a better-than-expected financial performance for the first half of the year despite the Covid-19 pandemic, which reduced sports revenues in the UK and Ireland.

Diploma said it was on track to meet expectations for annual profit after trading improved in the fourth quarter.

Cruise operator Carnival said it was extending its pause of operations in Australia to December as the Covid-19 pandemic continued to hit its operations globally.

WPP plunged to a £2.6bn first-half loss as it wrote down £2.7bn for the reduced value of its assets but the advertising company reinstated its dividend after business started to improve.

Virgin Atlantic was thrown a lifeline on Tuesday after creditors backed a £1.2bn rescue deal to help it through the Covid-19 crisis.

Petropavlovsk was paid $10.3m by IRC Limited, the Hong-Kong based explorer in which it holds a 31.1% stake.

Frasers Group is reviewing the future of its Bob's Stores business in the US after Nike decided to stop supplying the chain.

Cruise operator Carnival said it had cancelled its early 2021 world cruises and circle South America cruises on two of its ships, citing limitations with border and port access amid the Covid-19 pandemic and the continued uncertainty of airline travel.

James Fisher & Sons cut its interim dividend by 29% as first-half profit fell but the company said it expected trading to improve.

Ferrexpo has appointed company insider Lucio Genovese as chairman to replace Steve Lucas in a move that goes against UK corporate governance rules.

Next 15 Communications said on Tuesday that full-year results are set to be "materially ahead" of current market expectations as trading in the first half has remained resilient and is well ahead of the management expectations set out in March.

Eurasia Mining said its licence for its Monchetundra Flanks project in Russia had been approved by the regional licensing body.

International distribution and services group Bunzl said it had bought a US-based safety business and a flexible packaging distributor in Ireland for an undisclosed sum.

Aerospace and defence engineer Meggitt has signed a multi-million pound contract with Japan’s MODEC - a specialist of floating production systems for the offshore oil and gas industry - for the supply of pioneering printed circuit heat exchanges.

Balfour Beatty's Gammon joint venture has won a HK$12.9bn (£1.3bn) contract to expand terminal 2 at Hong Kong International airport.

Hipgnosis Songs Fund has acquired 50% of the copyright interest and writers share in the song catalogue of hip hop artist, songwriter and producer, and leader of Wu-Tang Clan, Robert 'RZA' Diggs, it announced on Monday.

Economic news

Business confidence in the UK improved for a third consecutive month in a row in August, the results of a closely-followed survey showed.

UK transport secretary Grant Shapps reassured workers in England that it is safe to go back to their workplaces as the government attempts to boost city centre business.

Only 17% of workers in British cities had returned to their workplaces by early August revealed the latest data from the Centre for Cities.

A collapse in tourism during the Covid-19 pandemic could cost the UK economy £22bn putting almost 3m jobs at risk, a report estimates.

The Financial Conduct Authority has told lenders to provide extra support for mortgage customers in difficulty after payment holidays run out in October.

UK pension savers have lost £31m to scams since 2017, said the latest report from the Financial Conduct Authority and The Pensions Regulator on Wednesday.

An experimental Covid-10 vaccine being developed by the University of Oxford and AstraZeneca could be put before regulators in 2020, the director of the Oxford Vaccine Group said on Tuesday.

Employment in the retail industry fell in August at its fastest pace since the financial crisis with worse to come as the government withdraws support for jobs, a Confederation of British Industry survey showed.

UK nightclubs face imminent “financial armageddon” due to the Covid-19 pandemic shutdown and have put forward new health and safety regulations.

Footfall across the UK rose fourfold last week as the post-Covid recovery continued, according to data released on Monday by retail analysts Springboard.

International events

German consumer sentiment suffered a setback as rising coronavirus infections and fears of renewed restrictions to thwart the virus dampened spirits.

Japan’s Prime Minister Shinzo Abe resigned on Friday, citing the return of a chronic bowel condition that had previously forced him out of office.

The number of Americans filing for unemployment benefits fell slightly last week after an unexpected increase the week before, but remained above 1 million.

The head of America's Federal Reserve announced a shift in monetary policy in order to allow both greater growth in hiring and for more sustained overshoots on inflation versus its target level following periods of weakness.

Orders for goods made to last more than three years nearly doubled economists' forecasts for last month, led by a sharp jump in those for motor vehicles and parts.

The annual gathering of the world's political and financial elite at Davos has been postponed until summer 2021 because of Covid-19.

German business sentiment improved in August, according to a widely-followed survey released on Tuesday.

Officials from Beijing and Washington reiterated on Monday night their commitment to the phase one trade deal between their two countries.

The Trump administration managed to haul in an unexpected catch, convincing the European Union to lift tariffs on Maine's lobster industry.

Tesla boss Elon Musk predicts that his company will be able to mass produce electric batteries for its Model 3 sedans with 50% more power in three to four years' time.