European countries reported strong figures on Thursday, with Spain and Germany both reporting growth, tempered only slightly by a softening in Italy’s manufacturing sector.

Spain

Spanish service providers recorded the fastest rise in employment in 11 years at the end of the first quarter of 2018, according to IHS Markit figures, with business activity also continuing to increase sharply. The headline seasonally-adjusted Business Activity Index fell marginally in March to 56.2 in March, down slightly from 57.3 in February but still signalling a sharp monthly increase in activity across the service sector.

Germany

Performance in the German manufacturing sector increased by 0.3 percent in February, according to figures released on Thursday by the Federal Statistical Office (Destatis). Price-adjusted new orders without major orders in manufacturing decreased by 0.7 percent in February 2018, with domestic orders decreasing by 1.4 percent. However, foreign orders increased by 1.4 percent in February on the previous month.

Italy

Italy was the weakest link in the European chain, with its service sector suffering a noticeable slowdown in growth during March. Both activity and new work rose at the weakest rates since last October. Employment also rose at a slower pace and cost inflation weakened further, while competitive pressures led to a decline in prices charged.

Winners have been announced in Ofcom’s bidding war for the 5G spectrum, with most of the major UK telecoms providers splashing out big bucks for a slice. BT Group confirmed on Thursday that it had secured 40MHz of the spectrum needed to launch 5G services in the future, at a cost of £302.6 million. Marc Allera, CEO of BT’s Consumer Division, said: “The acquisition of 40MHz of 3.4GHz spectrum positions us well for our launch of future 5G services and consolidates our position as one of the world’s leading providers of communications services. “With this outcome, we’ll continue to roll out the fastest 4G service to consumers and businesses across the UK, and now look ahead to the potential new services that 5G will offer, keeping our nation at the forefront of digital communications.” Vodafone UK also confirmed that it had acquired 50 MHz of spectrum in the 3400 MHz band, for a total cost of £378.2 million. The spectrum acquired has a 20-year term and is convertible to perpetual licences thereafter. Three owner Hutchison also picked up 20 MHz of 3.4 GHz spectrum for £151 million, with O2 parent Telefonica winning all 40 MHz of the 2.3 GHz spectrum available at £206 million. Ofcom’s Philip Marnick commented: “As a nation we’re using ever more mobile data on smartphones and mobile devices. Releasing these airwaves will make it quicker and easier to get online on the move. It will also allow companies to prepare for 5G mobile, paving the way for a range of smart, connected devices.”

The UK car market took a hit in March, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). UK car registrations were down 15.6 percent year-on-year in March, with demand for diesel vehicles dropped significantly over the month, down 37 percent. In contrast, demand for petrol cars rose by 1 percent. These disappointing figures follow on from those at the end of 2017, that showed new car sales falling for the first time in six years. Car sales decreased by 5.7 percent over the year to around 2.5 million vehicles. However, it must be remembered that March of last year was a record month, as consumers and businesses snapped up new vehicles ahead of a change in Vehicle Excise Duty the next month. The full data will be published later on Thursday morning by industry body SMMT. Demand for diesel cars plunged by 17 percent last year, meaning the pace of decline for such vehicles in March has more than doubled.

Retail property manager Hammerson (LON:HMSO) reported strong growth in the first quarter of the year, despite the “challenging” High Street environment. UK retail sales fell 2 percent, as severe weather and subdued consumer confidence weighed on performance, but net asset value grew 1.8 percent as the group retained earnings and improved valuation gains. Leases signed across the group rose to £7 million, up 59 percent compared to the same period a year ago, reporting ‘good progress’ on its existing projects, including the Brent Cross extension. Portfolio occupancy improved from 96.6 percent to 97.1 percent at 31 March 2018. David Atkins, Chief Executive of Hammerson, said: “Whilst we recognise the difficult trading environment and challenges felt by many retail and restaurant formats in the UK, there continues to be good demand for space across our centres. The Easter trading weekend again demonstrated that not all retail is equal with our centres delivering positive footfall growth of 5% compared to average reported Easter footfall across all shops of -2.4%. “The positive momentum of the business is a mark of the quality of our portfolio and the skill of our team which are delivering continued income growth and will drive future shareholder returns.”

Logistics company Wincanton (LON:WIN) recorded strong performance in the first half of the year, with full year results likely to be in line with expectations. Its consumer and retail division reported good volume growth and an “excellent” performance during the Christmas period, with the second half of the year boosted by contracts with Wickes, to manage its delivery of bulky goods to customers, and Ikea, to provide two-man home delivery services across the South East of England. Industrial and transport also performed well over the second half, winning contracts with Aggregate Industries and Phillips 66. Wincanton is a British logistics company with its origins in milk haulage, providing transport and logistics services including specialist automated high bay, high capacity warehouses, as well as supply chain management for businesses.

Vauxhall are set to continue production of its new Vivaro van at its Luton plant, despite ongoing “Brexit uncertainties”. The French car manufacturer announced it will increase production in Luton, in spite of on-going Brexit-related uncertainties facing the U.K economy. In a boost to the UK’s automotive industry, the commitment will protect the 1,400 jobs. The decision will see plant’s capacity increase to 100,000 a year. As it stands, approximately 59,000 vans year are currently manufactured at Luton. Should demand for the Vivaro prove strong, additional roles may be created at the plant. Group chief executive Carlos Tavares said: “This is a major milestone for the future of the Luton plant and a key enabler to serve our ambitions in the commercial vehicle market.” Business Secretary Greg Clark commented on Wednesday’s announcement: “Today’s decision is a vote of confidence in Vauxhall’s high-skilled workforce and the UK’s world leading automotive sector.” The commitment came after successful talks with the Unite union, alongside a government contribution thought to be in the region of £9 million. Reports indicated that Vauxhall had considered the option of moving production to Poland or Germany, however, neither bases were deemed well-equipped to proceed with production of the vans. In the UK, Vauxhall has 3,400 employees across its Luton and Ellesmere Port plant.      

Vitesse Media (LON:VIS) are set to launch 12 new diversity events across 2018 and 2019, as the company looks to address gender inequality in the workplace. The digital media and events firm announced on Wednesday it intends to “accelerate” the progression of its gender diversity and ‘Women In’ conferences. The series of international events aim at tackling the issue of gender inequality across a range of industries. This includes sectors such as finance and technology, fields which have been traditionally male-dominated and difficult to women to break into. Alongside existing events in UK and the US, the diversity series is also set to expand across Europe and Asia. This follows the launch of the ‘Women in IT USA’ awards event last month in New York, which saw 550 leaders in business and technology come together to address diversity issues. Simon Stilwell, Chief Executive of Vitesse Media, commented: The announcement coincides with the upcoming midnight deadline for UK businesses to report on their gender pay gap figures. Newly implemented government legislation requires companies with 250 employees or more to publish their figures, in a bid to expose gender inequality in the workplace. Of the 9,000 businesses affected, thus far 8,870 companies have thus far submitted their figures. Home Secretary Amber Rudd commented on the looming deadline: “There is absolutely no excuse for businesses in the private sector not to be transparent about their gender pay gap before the deadline set down in law” “Businesses should see reporting gender pay gap data as just the first step on the road to creating fairer and more equal workplaces across the UK.” “They should be putting action plans in place to break down the barriers to women’s progression in their organisations,” she added. Among the biggest recorded overall gender pay difference, the construction, finance and mining sector recorded the highest median pay gap. Businesses are required to submit gender pay gap figures by midnight on April 4th, according to the government deadline.