Weekly review
The FTSE 100 ended the week 242.2 points lower at 6,921.94.
Equity view
GlaxoSmithKline confirmed on Friday that it has withdrawn from the process relating to Pfizer's Consumer Healthcare business.
Profits fell at Next for the third year in a row in 2017 and are expected to fall again in 2018 as falling store sales and good online growth largely cancel each other out and the clothing retailer looks to "attack costs" and "defend sales and profitability".
Aviva has decided not to cancel £450m worth of preference shares following "strong feedback and criticism" from a large number of investors.
John Laing Infrastructure Fund issued its results for the year ended 31 December on Friday, declaring a dividend of 3.57p per share for the last six months of the year, up 2.5%.
Workspace Group has been granted planning permission for a significant mixed-use redevelopment at its Chocolate Factory and Parma House properties in Wood Green, north London, it announced on Thursday.
Halma, the FTSE 100 health and safety technology group, said profits for the year to 31 March would be in line with current market forecasts as growth continued in the second half, though currency benefits have waned.
Ultra Electronics announced the appointment of Simon Pryce as its chief executive officer on Thursday, confirming he will join the group and its board on 18 June.
Reckitt Benckiser has ended discussions with Pfizer about buying elements of the US company’s consumer healthcare business.
GKN branded Melrose Industries a novice operator with no plan, in the latest round of accusations between the companies locked in a hostile bid battle.
Floor coverings retailer Carpetright said on Wednesday that it has secured an emergency loan from one of its biggest shareholders as it announced a cash call and said it is looking at a company voluntary arrangement to cut rents and close stores.
The Competition and Markets Authority has approved GVC’s takeover of Ladbrokes Coral, clearing the way for the creation of one of the world’s largest listed betting companies.
Ferrexpo declared a higher special dividend than most investors may have expected, as a 7% fall in pellet production was offset by higher iron ore prices and expectations for premium pellet prices in 2018.
French tyre manufacturer Michelin has agreed to buy UK engineering company Fenner in a deal worth around £1.3bn.
Virgin Money and Aberdeen Standard Investments have announced the formation of a joint venture to provide asset management services to customers.
Online gaming entertainment company 888 issued its audited annual financial results for the year ended 31 December on Tuesday, reporting a 4% increase in group revenue to $541.8m.
Housebuilder Bellway said it was on track to build more than 10,000 homes in a year for the first time as half year pre-tax profits rose 16.6% to £288.7m.
Shares in oil and gas exploration company Caspian Sunrise fell almost 30% after it announced the effects of adverse weather on its operations at the BNG contract area in Kazakhstan.
Shares in Hammerson surged on Monday as it confirmed that it recently rejected a £5bn bid from French shopping centre operator Klepierre.
Micro Focus International chief executive Chris Hsu has resigned as the company downgraded its profits guidance less than six months after completing the reverse takeover of HP Enterprise's software arm.
Soft tissue manufacturer Accrol Group Holdings' shares fell almost 60% on Monday after the company projected a larger than expected EBITDA loss and the likely breach of banking covenants.
Economic news
UK retail sales last month bounced back more strongly than expected after two months of declines, though non-food store sales continued to wane.
The Bank of England left the way open for interest rates to rise in May after policymakers voted 7-2 in favour of leaving borrowing costs unchanged.
Theresa May addressed a summit of EU leaders in Brussels on Thursday and warned then to stay united against a threat from Russia after the Salisbury poisoning.
Health unions have accepted a deal for 1.3m NHS workers that will see pay rise by at least 6.5% over three years.
A parliamentary committee has accused PricewaterhouseCoopers for “milking the Carillion cow dry” as the accountancy firm was grilled over the construction company’s collapse earlier this year.
Factory order books weakened in March but manufacturers continued to benefit from sterling’s decline and global economic growth, a CBI survey showed on Wednesday.
Fund managers were still 'long' on equities, despite rising worries over trade and stagflation, thanks to optimism on the outlook for earnings and interest rates, the results of a widely-followed poll showed.
UK inflation cooled off more than expected last month, but economists were divided over whether it would reduce the pressure on the Bank of England to raise interest rates ahead of the policy meeting this week.
Average asking prices paid by first- and second-time buyers in Britain hit records levels this month, although overall prices in the capital fell, according to data released by Rightmove on Monday.
Britain and the European Union have agreed a 21-month Brexit transition deal to smooth the break-up after March 2019, though the Irish border remains one of several issues not yet resolved and it was described by some as "not a decisive breakthrough".
International events
China has announced $3bn tariffs as a response to the US’ new levies on steel and aluminium imports that were implemented on Friday. China listed 128 US products that could be subject to tariffs if there are no new negotiations on trade.
The threat of a trade war between the world's two biggest economies did not have as big an effect on Chinese stocks after Beijing intervened to support its stock market on Friday, while economists said US tariffs were not as big as had been feared.
German business confidence deteriorated a little in March, according to a widely-followed survey released on Thursday.
Eurozone business activity in March grew at the slowest rate in 14 months, with disappointing manufacturing and services PMI surveys on Thursday.
The US central bank tightened policy on Thursday, as expected, amid a modest upwards shift in policy makers' own expectations for the path of official interest rates in 2019 and 2020.
Travis Kalanick, Uber's former chief executive, has found a new ride after exiting the ride-sharing company in June, acquiring a controlling stake in real estate company City Storage Systems for $150m.
US retailers and clothing manufacturers including Wal-Mart and Nike are raising concerns with President Donald Trump over his pledge to levy tariffs on Chinese imported goods since it will raise consumer prices and hit sales.
Economic growth in China continued in March, driven mainly by manufacturing and amid "notable" increases in prices, according to the latest reading for World Economics' Sales Managers' Index.
Vladimir Putin was elected for a fourth six-year term as Russian President in the 19 March elections, making him the longest-serving leader of the country since dictator Joseph Stalin, although voter turnout was slightly lower than the Kremlin had reportedly been seeking.
Senators Amy Klobuchar and John Kennedy have issued a joint call to Senate Judiciary Committee chairman Chuck Grassley to hold a hearing with the chief executives of Facebook, Google and Twitter.