THE FTSE 100 Index closed in on the 6000 mark yesterday as investors shrugged off disappointing economic data from the UK and US.

London’s top tier closed 31.7 points higher at 5983.5, despite figures revealing the UK economy had not grown as strongly as thought, with GDP growth downgraded for the past three quarters.

On the other side of the Atlantic, America’s GDP rate was revised upwards for the third quarter, but by less than expected.

The weak UK growth figures hit the pound, which fell against the dollar and the euro.

In London, banking and mining stocks continued to push up amid thin trading volumes.

Investors piled into BSkyB after Business Secretary Vince Cable lost his power to block a takeover approach by Rupert Murdoch’s News Corp. BSkyB shares rose two per cent, up 14.5p to 743p, as Investec Securities said the probability of News Corp being given the green light to acquire the remaining 61 per cent of BSkyB it does not already own had risen to 90 per cent from 66 per cent.

Banks continued an improved run, as reports suggested China was prepared to buy debt from ailing Portugal. The country is tipped by analysts to follow in the footsteps of Ireland and Greece and seek an EU-funded bailout.

Lloyds was up 0.5p at 68.9p, Royal Bank of Scotland added 0.5p to 40.7p, and HSBC gained 6.6p to 669.4p. But Barclays, which is closely tied to the Iberian peninsula, slipped 0.9p to 267.5p.

British Airways pulled back from losses earlier this week, lifting two per cent, as the Christmas travel outlook improved.

Shares added 5.2p to 273.6p.

Northern Foods rose four per cent as it confirmed interest from food tycoon Ranjit Boparan in making an offer for the firm and gatecrashing an existing deal. Shares were up 2.5p to 63p.