FTSE higher on Friday; lower for week overall
The FTSE 100 index recorded its fourth consecutive week of falls as the fears over the eurozone debts, in particular the crisis in Greece, continued to shake investor confidence. On Friday, the blue chips recovered somewhat as a rescue solution for the troubled country appeared to be drawing closer and ended the day up by 0.13 per cent at 5714, a rise of just over 16 points.
Chris Bradshaw
shareprices.com - Monday, June 20, 2011
However, despite the stronger end to the week, the index was still lower than when it opened on Monday, having lost 0.9 per cent overall.
The top performer in the index was the temporary power firm Aggreko, higher by 2.4 per cent as it saw its target price upped by brokers, just before it issues its trading report at the start of next week. Goldman Sachs reiterated its 'buy' rating, pointing to 'unfulfilled demand' as well as 'attractive growth' in the sector.
Tesco was another stock higher on Friday, rising by 1.1 per cent but following the trend of the index, still registering losses for the week as it disappointed investors with its trading update released on Tuesday. In other retailer news, Kingfisher was down by 1.23 per cent, the heaviest faller of the day.
The bankers were back in the blue, performing well as Germany dropped its tough stance on Greece, sparking hopes that a package could yet be agreed in the near future. Barclays climbed by, whilst Lloyds was higher by 0.71 per cent and Standard Chartered just creeping up by 0.13 per cent.
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News
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22 May 2012 - FTSE climbs as markets calm
22 May 2012 - FTSE falls further as ratings agency action worsens fears
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