FTSE 100 closes at 6,270 in best week since mid-April

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(Close): London shares ended Friday just 5 points higher, dragged down by the mining sector, as Marks and Spencer fell another 1%.

FTSE 100

Shares in Marks and Spencer closed 4p lower at 386.5p – a 12% fall from the 440p they stood at before the retailer said on Wednesday that profits would fall under a turnaround plan.

The FTSE 100 closed 5 points higher at 6,270.79 points.

The index posted its biggest weekly gain for six weeks.

Miner Antofagasta reversed its early gains to end down 2.5%, while Anglo American was the top faller, shedding 2.7%.

Royal Mail was the biggest riser on the blue-chip index, ending 2% higher at 532.5p.

Traders said the stock was helped by news that the Unite union had cancelled proposed strike action, as well as a report of a possible merger between Belgian and Dutch mail operators Bpost and PostNL.

Oil lost its gains made on Thursday with Brent crude trading at $49.21, down 0.8%.

On the currency markets, the pound was down slightly against the dollar at $1.4654, but was up a touch against the euro at €1.3121.

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