Better than expected UK GDP figures sent the pound higher but left the stock market unmoved.
News that the economy had grown by 0.3% in the first quarter, avoiding a return to recession, saw sterling rise against the dollar to a two month high of $1.5414 from $1.5285 before the figures. The euro fell to a a two week low of 84.64p, while UK gilts dipped 20 basis points to 100.26. Analysts said the data was "surprisingly robust" and meant it was unlikely the Bank of England would take further action to stimulate the economy at its meeting next week.
But the FTSE 100, down 15.85 points ahead of the GDP announcement, edged slightly higher before slipping back to the current 6414.56, down 17.20 points.
