Sterling surges to $1.84, but FTSE ends the day down

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 passenge...