Weekly review

Equity view

Aviva said it was exiting the Indonesian market and selling up to its joint venture partner Astra International for an undisclosed sum.

AstraZeneca said its Imfinzi bladder cancer treatment did not meet primary endpoints in the phase three DANUBE trial against standard-of-care (SoC) chemotherapy for patients with an advanced stage of the disease.

Guarantor loans provider Amigo Holdings said on Friday that former chief executive Glen Crawford will be joining the company as a consultant with immediate effect to help with the strategic review and formal sale process.

Following a slump in its share price a day earlier, Cineworld put out a statement on Friday in a bid to reassure investors of its performance in the wake of the coronavirus outbreak, insisting it had not seen any "material" impact on movie theatre admissions.

Troubled money transfer company Travelex had its credit rating downgraded on Wednesday by S&P which expressed concerns over corporate governance and debt levels.

Admiral announced plans for cofounder David Stevens to quit as chief executive as reserve releases helped the insurer post record annual profit of more than £500m.

Turnaround specialist Melrose Industries posted a rise in full-year profit and revenue on Thursday as it hiked its dividend after its first full year of ownership of GKN.

UK broadcaster ITV said it expected a fall in travel-related advertising during April due to the coronavirus outbreak as it reported lower full year profits.

Budget airline Wizz Air said it was considering a 10% cut to capacity in the first quarter of the next fiscal year to counter the impact of the coronavirus having already reduced flights to Italy.

Gold and silver producer Polymetal posted record full-year earnings on Wednesday thanks to strong commodity prices, as it reiterated its production guidance.

DS Smith said on Wednesday that trading had continued to progress well in the period since 1 November, despite macroeconomic uncertainty.

Vivo Energy reported a rise in full-year earnings on Wednesday as revenue grew, mainly thanks to the contribution from its Engen-branded markets.

Rotork posted a rise in full-year profit on Tuesday as margins improved and the company said its growth acceleration programme was on track.

Intertek posted a 5.2% increase in annual operating profit but said its performance in 2020 would be affected by the coronavirus outbreak's effect on supply chains and global trade.

High Street baker Greggs reported a rise in full year profits but warned winter storms in the UK had caused a significant slowdown in February sales and an cited uncertain outlook due to the coronavirus.

Direct Line reported a 12.2% decline in full-year profit on Tuesday as it warned that the coronavirus outbreak could impact the 2020 results of its travel business and announced the departure of chairman Mike Biggs.

Sage said on Monday that it has agreed to sell its Brazilian business to local management for up to £10m.

Kainos, a provider of digital services and platforms, has bought Colorado-based IntuitiveTEK, an advisor in the areas of financial consolidation, budgeting, planning, forecasting, reporting and accounting solutions, for an undisclosed sum.

Hiscox reported an 8.1% rise in gross premiums written in constant currency in its full-year results on Monday, to $4.03bn (£3.14bn), despite disciplined action to reduce $200m in underperforming lines.

Online food delivery company Just Eat Takeaway on Monday said it had started arbitration proceedings against German rival Delivery Hero, claiming it broke a standstill deal on lifting its stake.

Economic news

UK house prices rose for the fourth month in a row in February, according to figures released by Halifax on Friday, although the outbreak of the coronavirus was cited as a risk going forward.

Britain's competition watchdog warned traders against trying to "take advantage of people" on the back of the current coronavirus outbreak.

The UK services sector saw an uptick in activity in February but the global coronavirus outbreak constrained growth, a widely-watched survey showed on Wednesday.

A report by Lord Nicholas Stern urged Chancellor Rishi Sunak to spend over £8bn in next week’s budget on zero-carbon infrastructure and outlined the impact of climate change on the UK.

Retailers are reporting increasing supply chain disruptions on the back of the coronavirus outbreak, a survey published on Wednesday found.

Mark Carney warned the coronavirus could cause a large shock to the UK economy as the Bank of England's governor said the central bank would seek to help households and businesses through the outbreak.

The British construction sector rallied last month, as Brexit-related political and economic uncertainty eased and new orders surged, a widely-watched survey published on Tuesday showed.

The government laid out a range of measures on Tuesday to tackle the coronavirus as it warned that the outbreak could keep workers at home for weeks at a time, close schools and force the emergency services to respond to only the most serious crimes.

The Bank of England said on Monday that it is working with the Treasury and international partners "to ensure all necessary steps are taken to protect financial and monetary stability" in the face of the coronavirus outbreak.

UK manufacturing output hit a 10-month high in February, as Brexit-related political turmoil eased - but there were signs the coronavirus outbreak was already starting to weigh on the sector.

International events

German factory orders rose far more than expected in January, according to figures released by Destatis on Friday.

US non-farm payrolls in February blew the doors off analysts' estimates.

Eurozone business activity picked up a little in February, according to data out on Wednesday.

Activity in China’s services sector crashed in February, resulting in its worst month on record, as the coronavirus outbreak saw business grind to a halt.

Car sales in China – the world’s biggest auto market – tumbled 80% last month, as moves to contain the coronavirus outbreak emptied showrooms and wiped out sales.

Private sector payroll growth in the States slowed last month, the results of a closely-followed survey revealed.

Eurozone inflation dipped in line with expectations as unemployment remained unchanged, official figures showed.

The US Federal Reserve cut interest rates by 50 basis points on Tuesday as it looked to counter the economic impact of the coronavirus outbreak.

Activity in China’s manufacturing sector fell sharply in February as the coronavirus outbreak took its toll, according to a private survey released on Monday.

The global economy is facing its biggest threat since the financial crisis in the coronavirus outbreak, the OECD warned on Monday, as it cut 2020 growth forecasts and called on governments to act "immediately".