Weekly review

The FTSE 100 finished the week down 39.19 points to 6,378.04.

Equity view

Rio Tinto has increased production in most areas, but further declines in copper production let the company down.

The US Food and Drug Administration has issued a complete response letter regarding AstraZeneca’s new drug application for the investigational fixed-dose combination of saxagliptin and dapagliflozin for the treatment of adult patients with type 2 diabetes.

London Stock Exchange Group has launched a new interest rate derivatives venture, CurveGlobal, with a number of major dealer banks and the Chicago Board Options Exchange.

British American Tobacco has purchased the final necessary number of shares in Brazilian subsidiary Souza Cruz, the country's largest cigarette maker, to enable it to take the company private in coming months.

Metrology and engineering company Renishaw said it now expects full-year revenue to be below previous guidance, as it posted a drop in sales and profit for the first quarter.

Household goods giant Unilever posted a jump in revenue in the third quarter and said it now expects underlying sales growth for the year to be towards the top end of its target range.

Burberry has scrambled to cut costs after sales slowed in the second quarter as the luxury market, particularly for Chinese customers, became "increasingly challenging".

Shares in WH Smith rallied after the retailer posted a rise in pre-tax profit for the year on the back of a good performance across the group, with the travel business in particular providing a boost.

Tesco has agreed to sell 14 sites managed by its Spenhill property development arm across London, the South East and Bath for £250m.

Sainbury’s has confirmed it is shutting down its mobile network on January 15.

A production update from Fresnillo showed the precious metals miner remains on course to hit its full-year guidance, with third-quarter silver production dwindling to 11.04m oz but almost flat on the previous year and slightly lower than the preceding quarter.

N Brown, the specialist online and home shopping fashion retailer, impressed investors despite posting half-year results that showed a decline in profits as it shifts its business model from direct mail to digital.

Hargreaves Lansdown reported an increase in new clients, though assets under administration have dipped due to the tough market.

Reports suggesting Barclays was set to name US investment banker Jes Staley as its new chief over the coming fortnight weighed on the lender’s shares, prompting a reaction.

Walmart-owned Asda has appointed Sainsbury’s retail and operations director Roger Burnley as its new chief operating officer.

Housebuilder Bellway's 44% rise in full year profits to £354.2m was well ahead of consensus forecasts, allowing it to reward shareholders with a bumper dividend increase.#

SABMiller have agreed to a possible £44 per share takeover offer from AB InBev.

The government has sold its remaining stake in Royal Mail, business secretary Sajid Javid confirmed on Tuesday.

Glencore has begun the process to sell two of its copper mines in Australia and Chile.

Economic news

Proposals by the Bank of England would require the UK's big banks to hold up to £3.3bn of capital under new ring-fencing rules designed to make their retail operations more resilient to potential market crashes.

The UK’s unemployment rate fell unexpectedly in August to reach its lowest level since mid-2008, data released on Wednesday showed.

Newly appointed Bank of England policymaker Gertjan Vlieghe on Tuesday signalled that he believes the central bank shouldn’t rush to raise interest rates.

Bank of England policymaker Ian McCafferty has reiterated that interest rates need to rise to allow more scope for cuts in the event of a financial crisis.

The UK's official measure of house price growth remained at 5.2% in the year to August, the Office for National Statistics said on Tuesday, with seasonally adjusted average house prices increasing by 0.7% between July and August 2015.

Britain slipped into deflation territory in September, figures released on Tuesday showed.

Retail sales in the UK in September grew 2.6% compared to the same month last year on a like-for-like basis, as strong non-food performance was boosted by strong a weak comparative period for clothing last year and a later bank holiday this time.

Approximately six million employees in the UK are being paid below the living wage, the ONS revealed.

International events

The University of Michigan's consumer sentiment index beat expectations in October, data released on Friday showed.

The High Court in London has ruled that the GPS-reliant ride-hailing app used by Uber does not break the law.

Inflation in the Eurozone remained largely stable in September, figures released on Friday showed.

The US Consumer Price Index fell for a second month in a row in September but was nevertheless stronger than expected when compared with year-ago levels.

The number of first time unemployment benefits claimants in the US unexpectedly fell last week to match the lowest level in 42 years.

The Empire State manufacturing index improved a tad in October but the results of the survey were nevertheless rather poor.

US retail sales rose less than expected last month, figures released on Wednesday showed.

China’s consumer inflation slowed down in September as domestic demand remained weak, data released on Wednesday showed.

It would be very difficult for the Federal Reserve to move on interest rates when it meets at the end of October, a top US central bank official said.

Japanese consumer confidence missed expectations in September, official figures released on Tuesday showed.

Overseas sales of Chinese goods continued to recover in September but import volumes missed economists' forecasts.