Weekly review

Equity view

Aveva said it was confident in its outlook for annual results after a "strong" third quarter improved revenue growth to about 1.5% in the first nine months of the year.

Defence and aerospace engineer Meggitt said it expected full year results to be in line with expectations but cautioned that the expected recovery in air travel from the Covid pandemic would take longer than expected.

British American Tobacco said on Friday that the UK’s Serious Fraud Office had ended an investigation into one of its subsidiaries.

Segro said on Friday that for the year ended 31 December, it had collected 98% of all rents to date.

Food packing company Hilton Food Group said on Thursday that it has performed ahead of its expectations as it continues to benefit from a shift to home consumption amid the Covid-19 crisis.

Dunelm reported a spike in second-quarter sales on Thursday, boosted by strong demand for homewares, but warned of a more uncertain outlook following the latest round of lockdown restrictions.

Energy services company Wood Group said it expected full year core earnings to fall by a fifth amid the Covid-19 pandemic and slumping oil price.

Veterinary drugs group Dechra Pharmaceuticals said on Thursday that the stronger than expected trading performance seen in the first quarter had continued throughout the tail end of the half.

Persimmon hailed a "robust" full-year performance on Wednesday, despite lockdown restrictions contributing to a fall in new house sales.

Value retailer Bonmarche has been bought out of administration, securing more than 500 jobs.

Howden Joinery on Wednesday lifted profits guidance after a better-than-expected performance in the final weeks of the year as locked down Britons spent more time improving their homes during the coronavirus pandemic.

Marshalls said on Wednesday that its out-turns for 2020 and 2021 are set to be "modestly" above current expectations as trading continues to improve.

Online gaming company Gamesys said on Tuesday that FY 2020 revenue and adjusted earnings before interest, tax, depreciation and amortisation are set to be at or above the upper end of market expectations following a continued strong performance in the fourth quarter.

Land Securities updated the market on its rent collection for December on Tuesday, reporting that of the £112m that fell due on the 25th of the month, £35m remained outstanding.

Building materials distributor and DIY group Grafton upgraded full year profits guidance after households spent a greater proportion of disposable income on their homes in November and December.

FTSE 250 gambling software company Playtech said on Tuesday that its FY 2020 performance was set to be ahead of consensus expectations, with its financials division, Finalto - formerly TradeTech - the standout performer.

Former Ocado director Simon Thompson has been appointed chief executive of Royal Mail, the company confirmed on Monday.

British Land said less than a third of its retail stores were open under the latest national lockdown and that it had collected 71% of rent due in December.

Residential landlord Grainger said on Monday that it has bought a 231-home forward fund build to rent development in Bristol for around £63.1m, with Cubex Land as development manager, backed by Fiera Real Estate.

Entain's chief executive has quit the owner of Ladbrokes with the company a takeover target for MGM Resorts International.

Economic news

The UK economy shrank 2.6% in November but beat expectations as the government imposed a second Covid-19 lockdown on England, official figures showed.

The UK’s booming housing market weakened in December, a closely-watched industry survey suggested on Thursday, after a number of key indicators softened.

The government has launched legal proceedings against the former directors of Carillion, the collapsed outsourcing giant.

Tightening restrictions to stem Covid-19 infections caused Christmas misery for Britain's pubs and restaurants as sales plunged, a survey showed.

The Financial Conduct Authority proposed on Wednesday to extend the ban on the repossession of homes of people unable to pay their mortgages due to the pandemic.

People already struggling with poverty and those with the lowest wages have been worst hit by the pandemic said the Joseph Rowntree Foundation in its latest report.

Andrew Bailey, the governor of the Bank of England, has warned that the UK faces a "very difficult" period following the resurgence of Covid-19.

UK Foreign Secretary, Dominic Raab, announced a package of measures on Tuesday aimed at ensuring that British organisations are not complicit in the human rights violations taking place in the Chinese region of Xinjiang.

A third of UK companies see a difficult landscape ahead for investment in Britain as Brexit comes into full force even as Covid-19 continues to obstruct normal trading.

The Financial Conduct Authority warned consumers they should be prepared to lose all their money when making investments linked to crypto assets as the values of Bitcoin and other digital currencies fell sharply.

International events

US retail sales slipped even further in December amid renewed measures to curb the spread of Covid-19 weighed on spending at restaurants and led to lower levels of foot traffic in shopping malls.

Consumer confidence in the States only dipped at the turn of the year despite the ongoing novel coronavirus pandemic and poor political headlines, the results of a closely-followed survey revealed.

Germany's economy shrank by 5% in 2020 as Covid-19 hit domestic and foreign demand in Europe's biggest economy, official figures showed.

China’s trade surplus hit fresh highs in December, according to official data, fuelled by strong global demand.

The cost of living in the US rose a bit more quickly than expected at the end of 2020, mainly due to a jump in energy costs, although price pressures at the 'core' level remained subdued.

Data from animal trials on the ability of Pfizer and BioNTech's Covid-19 vaccine to block transmission of the novel coronavirus are "promising", the chairman of the former said.

Small business sentiment in the US unexpectedly deteriorated in December, according to the latest survey from the National Federation of Independent Business.

Iran must reverse its decision to enrich uranium up to 20% if it wants to save the 2015 nuclear accord, the European Union said in a statement on Monday.

Chinese consumer prices unexpectedly rose in December but core inflation weakened to a 10-year low.

Chinese tech giant Baidu is preparing to set up its new electric vehicle manufacturing venture, the company said on Monday.