FTSE 100 ends week over 4,000
Friday 17th April 2009, 5:20PM BST.
The FTSE 100 closed one per cent higher to stay above the 4,000 mark for a second day.
Closing 39.82 points up at 4,092.80, the index gained back ground lost in early trading on a banking rally, triggered better-than-expected results at Citigroup and General Electric in the US.
Citigroup still posted a loss for the first quarter, but it has shrunk significantly since the end of last year after cost-cutting.
The index is now 2.6 per cent higher over the week, which was shortened due to the Easter break.
Lloyds Banking Group rose 15.38 per cent, while Royal Bank of Scotland was trading 13.99 per cent higher.
Several mining firms were in the red, however, including Randgold Resources, down 5.36 per cent, and Rio Tinto, which dropped 3.07 per cent.
Several large UK firms are preparing to release their results next week including Tesco, GlaxoSmithKline and Alliance Trust.
If the results are better than expected, analysts are predicting a rally for the FTSE 100.
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