London FTSE 100 closes lower on Friday

The UK FTSE 100 index closed lower on Friday as stronger dollar curtailed pound.

FTSE 100 Index slipped by 16.3 points to close at 5251.4.

The week had started positively, with index at 5,363.3 points. But, concerns regarding economy's ability to pull out of recession dragged the index down again.

Travel companies Thomas Cook and TUI Travel fell steeply following downgrades from Morgan Stanley. The bank has downgraded its rating on Thomas Cook from equal weight to underweight and on TUI Travel from overweight to equal weight.

Thomas Cook slipped 9.3p to 209.2p, while TUI Travel fell 10.2p to 245p.

Lloyds Banking Group shed 1.79p to 88.15p, while Barclays dropped 4.15p to settle at 304.25p.

RBS closed at 35.995p, down 0.01p.

Rio Tinto slipped after Credit Suisse hacked its rating on the mining giant from 'neutral' to 'underperform'.

On the other hand, Cable & Wireless gained 2.5p to 138.1p. Johnson Matthey jumped 27p to close at 1576p.