London’s FTSE 100 Index ended the week on a high today despite estimates that Britain’s economy contracted at the end of last year.
The FTSE 100 rose 20 points to 6,121.6, ending a strong week in which it hit its highest level since May 2008 and pushed through the 6,100 barrier.
Strong gains from the owner of British Airways helped the top flight move higher, with International Airlines Group (IAG) leaping 10.7p or 5% to 207.6p after a broker upgrade.
Banking stocks also made further gains after regulators relaxed rules on liquidity standards aimed at ensuring firms can survive a short-term crisis earlier this week.
Barclays was 5p higher at 299.7p and Lloyds Banking Group added 0.7p to 54p.
Exploration group Tullow Oil was the biggest FTSE 100 faller however, after a trading update revealed lower-than-expected production for 2012. Shares fell 39p to £11.86, or 3%.
Elsewhere Aga Rangemaster suffered share falls, down more than 2% or 1.8p to 83p, after it said sales failed to improve since the half-year.
The biggest FTSE 100 risers included Aviva ahead 12.1p to 380.1p, Aberdeen Asset Management 11.4p higher at 391.5p and G4S up 6.1p to 267.7p.
Among the biggest FTSE 100 fallers were BHP Billiton off 57p to £20.75, Kazakhmys 17.5p lower at 808.5p and Johnson Matthey down 45p to £22.50.
Elaine McLachlan, of investment manager and financial planning specialist Brewin Dolphin in Inverness, noted that the day’s risers included John Swan, up 7.7% at 350p, with Macfarlane Group rising 2.2% to 29.88p.
Fallers included Plexus Holdings, ending the week down 6.3% at 223.13p, while IndigoVision fell 3.1% to 352p.
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