The FTSE 100 index ended the day down, even thought sterling hit a new six-week high against the dollar.
But this was the first week in 20 months where the benchmark index closed above 4500 every day.
The FTSE 100 closed down 12 points or 0.3% to 4547.1 and the FTSE All-Share index dropped 0.2% today to 2271.05p.
Gallaher, the tobacco manufacturer, also closed down 11.5p or 1.7% to 674p after a rating downgrade from UBS, along with Rexam, the drinks can manufacturer which also closed down 2.5p or 0.6% to 442.25p and Abbey National Plc, which lost 1.5p or 0.3% to 478.5p on the back of a ratings downgrade.
That said, BA added another12.5p or 4% to 328p thanks to its increase in passenger traffic announced earlier this week while rival airline EasyJet also gained 5.5p or 1.7% to 339.75p on increased passenger numbers.
And Greggs, the high street bakery, rose 120p or 3.7% to £33.50 thanks to a 10% increase in 2003 net £27.2m.
In the US this afternoon, another strong rally for sterling against the dollar – its highest level in six weeks – was provoked by an announcement from the Federal Reserve suggesting fewer jobs have been added to the economy this month.
The dollar weakened to $1.8451 just before close of business in London, but had moved as low as $1.85 earlier in the day.
An hour after close of business in London – 5.30pm – the Dow Jones was up 0.13% to 10,601.4 and the S&P 500 index was up 0.3% to 1,158.5 but the Nasdaq Composite index had slipped a fraction to 2,053.IFAonline
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