FTSE ends down for fourth week

LONDON - Britain's FTSE 100 scored its fourth straight closing loss on Friday, amounting to a 2.5 per cent fall for the week, as inflation concerns persisted, although online casino PartyGaming was a bright spot after a positive update .

The gaming company, whose volatile shares have halved since it warned in September its rapid growth was moderating, closed up 10.3 per cent.

The FTSE 100 closed down 22.0 points at 5,142.1, 6.7 per cent off a four-year high of 5,515 at the start of October.

Catering company Compass was the standout FTSE loser, down 5.8 per cent after it said it was probing its dealings with the United Nations after an independent inquiry into the UN's own procurement process produced a highly critical report .

Market watchers said the FTSE's drop this month makes the market ripe for a near-term rally as investors put aside inflation and interest rate concerns and concentrate on growth in company earnings and dividends.

Oils accounted for half the blue chip index's points fall.

- REUTERS