Weekly review

The FTSE 100 ended the week up 66.04 points to 6,444.08.

Equity view

TalkTalk said a criminal investigation was launched by the Metropolitan Police cyber crime unit on Thursday following a “significant and sustained” cyberattack on the company’s website, which it discovered on Wednesday.

Pharmaceuticals group Shire reported a decline in pre-tax profit for the third quarter but reiterated its full-year earnings guidance.

Shares in William Hill slumped after the bookie warned on Friday that full-year operating profit will come in at the bottom end of analysts’ forecasts as a result of additional taxes on the gambling industry and a tough comparison with last year.

Entertainment One has completed the acquisition of a 70% stake in Peppa Pig creator and producer Astley Baker Davies Limited for £140m.

Royal Dutch’s Shell’s $47bn cash and share takeover of BG Group is set to face further delays after Australia’s competition watchdog put back its decision on the matter by another week to 19 November.

Supermarket retailer Tesco has completed the disposal of its South Korean unit Homeplus, which was sold for £4.2bn.

Zoopla said it expects revenue and core earnings for the year to be ahead of last year as it continues to win back estate agents.

Investment trust SEGRO said it was optimistic about its full-year performance as its UK portfolio was reaping the benefits of favourable market conditions.

Investment manager Rathbone Brothers posted an increase in third quarter operating income, though it warned the economic environment remained challenging.

Ladbrokes shares raced higher as Thursday's third-quarter results met forecasts but were somewhat mixed as new chief executive Jim Mullen's plans take effect, with underlying revenue growing but operating profit falling sharply.

Department store operator Debenhams posted growth in annual pre-tax profit thanks to solid progress made against its strategic targets.

Foxtons remains on track to meet full-year expectations despite fewer transactions in central London and the slow recovery projected for property sales.

GKN has recorded a relatively flat performance for the nine months to 30 September, and said the outlook for the fourth quarter was not rosy.

Shares in ARM Holdings surged after the chip designer posted a jump in third-quarter pre-tax profit as revenue grew on the back of premium chip pricing and the broadening adoption of its technology, and said it has entered the final quarter of the year with strong royalty momentum.

Lonmin shares rallied as investors welcomed the platinum miner’s announcement of a rights issue and debt restructuring to combat declining prices.

Consumer goods group Reckitt Benckiser lifted its full-year like-for-like sales growth estimate to 5% from a previous range of between 4% and 5% as it posted better-than-expected third-quarter revenue.

Argos owner Home Retail Group warned its full-year profits will fall short of expectations due to trading uncertainty caused by Black Friday.

Sky has reported a strong first quarter book, with new paid-for subscription products boosting the company’s revenue.

The supermarket price war was continuing to rage in full force to the benefit of consumers, who were opting to pocket the savings, survey compiler Kantar Worldpanel said.

Two of the UK’s three listed grocers saw their market share drop in the latest 12 week period, according to reports citing the latest data available from Nielsen, as the grocery sector suffered a rare fall in both sales value and volume in the last four weeks.

Barclays has reached a settlement with the US National Credit Union Administration to resolve two outstanding civil lawsuits for $325m.

Economic news

Large UK banks will face tougher ‘stress tests’ and may be required to hold more capital to ensure they can withstand shocks to the financial system.

The Bank of England and the People’s Bank of China have agreed to renew an existing reciprocal sterling/renminbi currency swap line for another three years.

British public finances were healthier than expected in September, data released on Wednesday showed.

The gradual return of the so-called ‘natural’ interest rate to pre-crisis levels as the economy recovers means the lift-off in Bank Rate should not be left for “too late”, the most hawkish member of the Monetary Policy Committee believes.

The European Central Bank will re-examine its asset-purchase programme in December, President Mario Draghi said on Thursday, as the monetary authority unsurprisingly decided to keep its keys rates.

UK retail sales were up 6.5% year-on-year in September, well above analysts’ expectations and boosted by promotions around the Rugby World Cup.

Credit standards for Eurozone companies eased more than expected in the third quarter as banks made use of the European Central Bank’s asset-purchase programme to grants loans, according to the ECB’s latest bank lending survey.

Consumer confidence in the Eurozone declined more than expected in October, figures released by the European Commission showed on Thursday.

International events

The People's Bank of China will cut its one-year deposit rate and one-year lending rate by 25 basis points each to 1.5% and 4.35%, respectively, as it looks to bolster the slowing economy.

The US economy was set for “moderate” growth in coming quarters despite the uncertainties in the global economic landscape, one of the country’s most prestigious think tanks said on Thursday.

Sales of existing US homes rose to their second-highest level since 2007, data from the National Association of Realtors showed on Thursday.

The number of first time unemployment benefits claimants in the US edged higher last week after two straight declines, figures released on Thursday showed.

US Vice President Joe Biden has announced he will not run for President in 2016.

Applications for US home mortgages surged last week, data released on Wednesday showed.

The European Commission has ruled that tax breaks granted to Fiat Chrysler and Starbucks were illegal under EU state aid rules, and the companies will have to pay tens of millions in back taxes.

Japanese exports grew at their slowest pace in over a year in September, rekindling talk of the need for further monetary stimulus out of the Bank of Japan.

Construction on new US homes snapped a two-month decline and rose in September, figures released on Tuesday showed.

The US economy has good momentum behind it and should the economic information worsen following a rate hike the central bank could dial back on that tightening, a top Fed official told Bloomberg TV.