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FTSE 100 drops slightly on U.S. GDP data

Xinhua, February 28, 2015 Adjust font size:

The FTSE 100 Index, the British benchmark stock market gauge, on Friday closed lower by 3.07 points, or 0.04 percent, at 6946.66 points, as economic data from the United States weighed on the market.

U.S. real gross domestic product (GDP) expanded at a 2.2 percent annual rate in the fourth quarter of 2014, revised down from the advance estimate of 2.6 percent, according to the second estimate released by the U.S. Commerce Department Friday.

Also on Friday, Lloyds Banking Group announced a net income of 1.499 billion pounds (2.32 billion U.S. dollars) in the year of 2014, far better than its net loss of 802 million pounds a year earlier.

The 23.9 percent state-owned bank said it would pay dividends to shareholders for the first time since the financial crisis in 2008.

Intu Properties led the top losers of the blue chips with a share price drop of 5.10 percent, followed by Royal Bank of Scotland (5.02 percent), Barclays (1.98 percent), Weir Group (1.73 percent) and Aberdeen Asset Management (1.53 percent).

International Consolidated Airlines Group's share price increased 3.66 percent, topping gainers of the blue chips. Prices of Associated British Foods, Intertek Group, InterContinental and Imperial Tobacco Group advanced by 2.49 percent, 2.43 percent, 2.12 percent and 2.08 percent, respectively.

Trading in FTSE 100 companies was 5 percent higher than the 30-day average. The index has gained 6.36 percent so far this year in U.S. dollar terms.( 1 pound = 1.54 U.S. dollar) Endit