Weekly review

Equity view

House builder Bellway reported record first half volume output, with the completion of 5,321 new homes, a rise of 6.3%, as it said full year profits would be in line with estimates.

Burberry warned on Friday that the coronavirus was damaging its sales in China and Hong Kong and that the outbreak had forced it to close more than a third of its stores in mainland China.

Admiral's annual profit will be higher than expected after the insurer benefited from lower costs for UK motor injury claims.

TUI has agreed to sell its Hapag-Lloyd Cruises business to TUI Cruises, the company's 50:50 joint venture with Royal Caribbean Cruises, for an enterprise value of €1.2bn (£1bn).

Tate & Lyle said it expected full year earnings per share growth to be in a range of flat to low single digits on a constant currency basis as in maintained guidance.

Compass Group reported a 5.3% improvement in organic revenue for the three months ended 31 December on Thursday, which it said was driven by strong levels of new business wins and good retention rates, particularly in North America.

Mediterranean-focussed producer Energean Oil and Gas updated the market on the potential impacts of the novel coronavirus outbreak on the construction of the Energean Power FPSO Hull, which is currently being built on Liuheng Island in China, and the overall project timetable.

Insurer Beazley posted a better-than-expected surge in full-year pre-tax profit on Thursday as three of its six divisions achieved double-digit growth.

Private rental sector company Grainger said the recent UK General Election result had driven improved housing market sentiment as it reported a rise in rental growth.

Corrugated packaging group Smurfit Kappa reported a rise in full-year core earnings and revenue on Wednesday as it benefited from its capital spend programme and recent acquisitions.

Tobacco company Imperial Brands issued a profits warning on Wednesday as a worldwide crackdown on vaping products takes effect.

Vodafone reported continued organic service revenue growth in its third quarter on Wednesday, up 0.8% to €9.73bn (£8.25bn), accelerating from 0.7% in the second quarter.

Glencore reported a 6% fall in copper production for 2019 after the miner and commodities trader shut down its mine in the Democratic Republic of Congo.

Land Securities said Mark Allan would take up his job as chief executive in May, five months after his appointment by the commercial property company.

Low-cost carrier Wizz Air said booked passenger numbers in January rose 22.7% as its largest shareholder offloaded a majority of its stake in the airline at a discount to Monday's close.

Oil and gas giant BP reported better-than-expected full year results and lifted its dividend despite a weaker price environment that led to a sharp fall in profits.

Imperial Brands said it had appointed Inchcape chief executive Stefan Bomhard to its top job, replacing Alison Cooper who stepped down on Monday with immediate effect.

Power generator Drax on Monday said it would not participate in future capacity market auctions until the outcome of a judicial review of the UK government's decision to approve a controversial gas power plant in Yorkshire.

Magazine publishing and media company Future updated the market on the four-month period ended 31 January on Monday, reporting that it had continued to see “strong” momentum in the year-to-date.

Ryanair said on Monday that it swung back into profit in the third quarter of last year thanks to a solid performance over Christmas but warned that its first Max 737 aircraft will not be delivered until at least September or October.

Economic news

UK house prices unexpectedly rose in January, according to the latest figures from mortgage lender Halifax.

There are currently 1 in 5 people in the UK (14.0m) living in poverty and struggling to make ends meet, said the latest report from the Joseph Rowntree Foundation on Friday.

An election bounce saw activity in the UK services sector improve more than initially estimated in January, to its best level since September 2018, according to a survey released on Wednesday.

Britain's new car market declined 7.3% in January, according to figures published by the Society of Motor Manufacturers and Traders on Wednesday.

Organic food and drink sales rose by 4.5% in 2019 setting a new record of £2.45bn, fuelled by strong growth online and in home delivery.

Sales growth at UK supermarkets was subdued in the 12 weeks to 26 January, according to data from research firm Kantar.

Britain's construction industry showed signs of improvement in January as demand picked up and optimism increased, a survey showed.

Executives in the UK aviation industry have backed plans to cut net carbon emissions to zero by 2050, in line with the UK Government targets while also accommodating 70% growth in passenger numbers.

Activity in the UK manufacturing sector unexpectedly picked up in January, hitting a nine-month high, according to data released on Monday.

Energy regulator Ofgem has released a nine point Decarbonisation Action Plan to help the government meet climate targets while protecting households from price rises.

International events

China's central bank will increase support for the economy to reduce the impact of the coronavirus but it expects output to recover when the disease is under control, a leading official said.

German industrial output suffered its biggest drop since the financial crisis as construction activity tumbled in Europe's biggest economy.

The number of Americans filing for unemployment benefits fell last week to its lowest level since last April, according to data from the Labor Department.

The productivity of US workers picked up at the tail-end of last year as expected, but labour costs still grew more quickly than anticipated.

The Eurozone economy may have reached a turning point amid a stabilisation in factory sector conditions, the results of two key surveys showed, although the pace of expansion was expected to remain restrained.

A closely-followed tally of private sector job growth in the US grew far more quickly than anticipated last month.

The race to choose a Democratic candidate for the 2020 presidential election got off to a disastrous start when the Iowa caucuses results were delayed by technical issues.

Japanese authorities are growing increasingly worried about the potential impact that the new Chinese coronavirus might have on the archipelago's economy.

Activity in the eurozone manufacturing sector improved in January but remained in contraction territory, according to figures out on Monday.

Perhaps the most closely followed gauge of factory sector conditions in the States jumped well past forecasts last month.