UK economy set to shake off effects of blasts
AFP,London
The British economy will deflect economic fall-out from the deadly bombings that struck London, with the capital's stock market already shrugging off the apparent terrorist outrage, analysts said. Four explosions tore apart three underground railway trains and a bus during Thursday morning's rush-hour, killing at least 50 people and injuring 700 others. The attacks froze the transport network and briefly rattled global markets. "A look at previous terrorist attacks... suggests that any impact on the economy tends to be small and short-lived," Capital Economics analyst Roger Bootle said. "In particular, whilst the timing and pattern of economic activity can be affected, the effects on its overall levels are normally limited." London's stock market ended the week in positive territory after distraught City workers defiantly returned to their desks Friday for business as usual. The capital's FTSE 100 index of leading shares -- which slumped by nearly 200 points or 3.0 percent on Thursday -- closed up 1.43 percent to 5,232.20 points on Friday.
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