At the close: Little to report as FTSE 100 holds its own after strong week
It will take more than an immigration row and some disappointing business investment figures to shake the FTSE 100 this week, as equities clung on to monthly highs.
The index closed up a touch at 6,265.65, with none of the UK's largest 100 companies having a day to remember or forget. The top climber – Intu Properties – was up just two per cent while the worst of the bunch – Carnival – shed just three per cent.
After a ropey start to the day as business investment dropped 0.5 per cent in the first three months of the year in the UK, the market recovered, ticking from red to green and back again throughout the afternoon.
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It was a brighter day over in Europe, as the Cac 40 dismissed fears of the latest French strike action to climb 0.7 per cent to 4,512.64. The German Dax was also up 0.7 per cent, to 10,272.71 – cementing its position above the 10,000 mark.
The big market stories of the morning, however, came not from stocks and shares.
Currency traders, perhaps getting their heads round the latest FX code of conduct from the Bank for International Settlements (BIS), also had a quiet day.
The pound pared back against the US dollar, dropping 0.2 per cent to $1.4671 after a very impressive week. It also slipped 0.4 per cent against the euro to €1.3119 as volatility spiked with exactly four weeks to go until the vote.
Oil prices, which heaved their way through the $50 a barrel mark, slipped back a touch from those highs. At the close of the London markets Brent Crude was worth $49.86.