Goodbody Stockbrokers economist, Dermot O'Leary, said he expects a 3.0% ECB base rate at year-end.

.LONDON FTSE 100 6026.10 Up 1% on week UK stocks fell on Friday but climbed 1% for the week. Mining companies such as Rio Tinto led the decline as copper prices dropped. Rio Tinto fell by 2.8% to 3,065p. Kazakhmys, a Kazakhstan-based copper mining company, declined by 5.4% to 1,200p. Antofagasta lost 2.7% to 2,253p.

BAA increased 1.5% to 847p.

Ferrovial offered 810p a share in cash for the owner of Heathrow and Gatwick airports, valuing the company at £8.75bn. It was the same offer that BAA rejected on 17 March. Ferrovial said it hoped to enter into a dialogue with BAA in order to secure a recommendation.

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EUROPE Euro Stoxx 50 3522.05 Down 1% on week European stocks fell as bond yields climbed in the US, lessening the appeal of equities. BNP Paribas and utilities including RWE paced the decline. BNP Paribas dropped 2.5% to 75.40. Mining stocks including Xstrata dropped the most of any industry group, paring a two-day surge. Eiffage led construction stocks lower.

.NEW YORK DOW 11,120.04, up 0.1% Nasdaq 2,339.02, unch S&P 500 1,295.50, up 0.01% US stocks suffered their biggest losses on Friday since February after the yield on the ten-year Treasury note rose to a level not seen in almost four years, rekindling concern that higher borrowing costs may slow earnings growth. Utility shares led the decline in US stocks on Friday.