* FTSE 100 flat, but best weekly gain since early-May
* Volumes low as U.S. market shuts for holiday
* EasyJet boosted by traffic figures
By Tricia Wright
LONDON, July 4 Britain's top share index hit a
3-1/2 week closing high on Friday and recorded strong gains on
the week as investors took heart from further signs of
improvement in the global economy.
Budget airliner easyJet rose 1 percent, a top FTSE
100 performer, after unveiling a 10 percent jump in its
passenger numbers in June from the same month of the previous
Robust U.S. economic data, which raised expectations that
the world's biggest economy was on a recovery path, meant the
broader FTSE 100 index notched up its best weekly gains
since early May.
"The underlying picture still remains good in some of the
key regions - the U.S. and here in the UK of course - and you've
still got an accommodative stance from the European Central
Bank," said Henk Potts, equity strategist at Barclays.
"I think the earnings that you see from companies will still
be very supportive and good news for sentiment, but appreciate
that actually investors may become a little bit nervous as we go
through that period of liquidity starting to be removed and as
interest rates start to normalize."
Sports Direct was the biggest faller, off 2.1
percent, after a report in Britain's Guardian newspaper said
leading investors in the company will vote against the
re-election of the chairman and other board members at
September's annual general meeting in protest at the
multimillion-pound bonus scheme for its founder Mike Ashley.
Sports Direct declined to comment to the paper.
The FTSE 100 index rose 0.84 of a point - flat in percentage
terms - to 6,866.05 points, its highest close since June 10. It
was up 1.6 percent this week.
Investors had avoided strong bets on the last trading day of
the week and as the U.S. market was closed for a holiday.
Trading volumes were low, with the FTSE 100 witnessing just
under half of its 90-day daily average.
(Additional reporting by Atul Prakash; Editing by Hugh Lawson)