Little movement on thin-trading FTSE

The FTSE 100 Index closed 14.2 points ahead at 5243.6 after a session most notable for subdued trading.

The lacklustre session was characterised by a dearth of corporate news and subdued trading ahead of the weekend.

Peter Cogliatti, foreign sales executive at Williams de Broe, said investors had simply decided to sit on their hands until next week.

Banking stocks inched upwards ahead of the sector's key annual general meeting season next week.

Lloyds TSB added 4½p at 761½p, Royal Bank of Scotland inched up 6p at £19.48, Standard Chartered was 13p heavier at 832p, Alliance & Leicester put on 6p at 898p and HBOS gained 5p at 797p.

Also supporting the market were BP and Shell, which rose 2p at 597½p and a penny at 512½p respectively after late gains in the price of oil.

Of the few companies making announcements today, BAA rose 9p higher to 649½p after unveiling its investment plans and traffic forecasts.

Hanson was also up, rising 5¾p at 522p. The group's chief executive Andrew Dougal announced he was leaving today but investors were appeased by the choice of successor.

Alan Murray takes up the reins after leading the group's US division, where analysts say he has helped build profits growth.

But Dixons fell 3½p at 230½p despite telling investors it was on course to meet full-year targets.

However, it was telecom stocks that suffered some of the biggest falls.

MmO2, which unveiled a four-year sponsorship deal with Arsenal Football Club, slumped 3p at 53¾p to become the day's heaviest faller.

Rival Vodafone - due to update the City on trading next week - dipped ¾p at 117¼p and Cable & Wireless lost 5p at 200p

Key players, including Nokia, have posted downbeat comments this week and depressed sentiment. Comments by Carphone Warehouse about low sales of the first wave of next generation handsets added to the gloom.