FTSE 100 ends week on a high

The London market pushed ahead as City experts said there was now a high chance of an interest rate cut next month after the UK economy slumped at its fastest rate since the financial crisis.

The FTSE 100 Index stepped up 30.6 points to 6,730.5 as investors expect the Bank of England to administer a fresh dose of monetary stimulus in August.

Sterling sunk 1% against the dollar at 1.308 while it also fell 0.5% against the euro at 1.192.

In stocks, Vodafone was the biggest riser with shares up more than 4% to 235.6p.