Equity markets in London finished the day higher on Friday, but were down for the week as a whole. The FTSE 100 ended the day up 0.8 percent at 5,312.6, but was down by 0.6 percent for the week. Meanwhile, the FTSE 250 gained 0.6 percent on the day to close at 7,665.0 but saw an over all loss of 0.5 percent on the week.

The telecommunications sector was mixed. Cable & Wireless, which was the focal point of takeover moves and countermoves, dropped 4.1 percent for the week to 154 ¼p although it began the week at its highest level since July of 2002. Vodafone, on the other hand, was up 4 percent on the week to 154 ¾p, and O2 gained 3 percent on the week to hit an all-time high of 154p. Oil producers and explorers saw gains on the week.

Royal Dutch Shell’s B shares were up 1.4 percent on the week to £18.66, while BP also added 1.4 percent to 632p. Paladin Resources was up 3.6 percent to 281 ½p, Tullow Oil gained 2.8 percent to 205 ½p, while Cairn Energy added 1.8 percent to £17.11.