FTSE ends lower on US growth data (AFP)

LONDON (AFP) – Leading shares in London slipped lower on Friday after weaker-than-expected US growth figures stirred concern about the strength of the economic recovery, dealers said.

The figures showed the US economy grew 2.4 percent in the second quarter, short of forecasts for 2.5 percent and down from a revised 3.7 percent in the first.

The benchmark FTSE 100 index closed 1.05 percent lower at 5,258.02 points.

Lloyds Banking Group (LBG) was the most traded stock, seeing 152 million shares switch owners, followed by Vodafone, which saw 80 million units change hands.

British utility company United Utilities was the top blue-chip performer, adding 4.37 percent — or 24.5 pence — to end at 585, followed by water company Severn Trent, which rose 2.34 percent — or 30 pence — to end at 1,310.

Indian power generation company Essar Energy was the biggest faller, shedding 3.45 percent — or 14.8 pence — to end at 414.1, followed by insurer Legal and General, which closed down 2.77 percent — or 2.55 pence — at 89.55.

Meanwhile, the pound rose against both the dollar and the euro.

At 17:20 BST, the pound was trading at 1.572 dollars, up from 1.560 dollars at the same time on Thursday, while sterling stood at 1.203 euros, up from 1.192 over the same period.