German manufacturing sector slows

German industrial orders dropped in October as demand weakened, suggesting a manufacturing downturn will stem growth in Europe's largest economy. The economy ministry said industrial orders had stabilized in recent months, with business expectations also rising.

The country's export-dependent manufacturers are being affected by weaker foreign demand, tariff disputes with the US and uncertainty over the UK's delayed departure from the European Union.

DS Smith's cost savings boost profits

UK-based packaging group DS Smith reported a 15 percent jump in first-half profits on Thursday, as cost savings from its acquisition of Spanish rival Europac last year cushioned it from a weakness in industrial demand.

The company has been grappling with volatility in paper pricing and falling demand in its industrial packaging business, particularly hit by weakness in the automotive sector in Germany and the Benelux region. Half-yearly revenue from Northern Europe, one of its largest markets, fell 7 percent.

The owner of the Daily Mail newspaper, DMGT, posted a pre-tax profit of $190 million to the end of September, a year-on-year increase of 19 percent. The company recently bought the 'i', another British daily newspaper, and said this increase in profit has allowed it to seek other investments. 

The UK-based property manager M&G has suspended its $3.2 billion property fund because of a decline in the British retail market and concerns over Brexit. The company said continued requests by investors to withdraw their money from the fund during periods of uncertainty around Brexit is one of the reasons it has temporarily suspended their portfolio. 

More than $1.3 billion has been withdrawn from the fund in the past year. The company said it was unable to sell its properties fast enough in the current UK market to cope with these withdrawals.

In June this year, another UK-based fund manager, Woodford's, closed its fund over similar issues.