FTSE 100 falters but ends the week higher as Sports Direct and Standard Chartered share prices rise but Sainsbury's falls

James Nickerson
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The FTSE closed up for the week (Source: Getty)

The FTSE 100 index closed lower on Friday, but concluded the week higher.

The index closed 0.19 per cent lower at 6,189 points.

The fall comes despite a senior European Central Bank policymaker having hinted at another cut in Eurozone interest rates and having said “helicopter money” was part of the bank’s policy toolbox, said Jasper Lawler, markets analyst at CMC Markets.

Sports Direct was one of the biggest risers ahead of its demotion to the FTSE 250 as founder Mike Ashley runs the risk of being in contempt of parliament.

And "European banks rebounded after taking a drubbing at the idea of lower rates for longer. Shares of Standard Chartered made a big leap higher towards the top of the FTSE 100," Lawler added.

Meanwhile, Sainsbury's share price fell after rival Steinhoff pulled out of the race for Home Retail Group.

Berkeley Group also fell after an interim management statement. Results came in at the top end of expectations, but reservations were around four per cent lower than 2014-2015.

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