Stock Market

Sterling fell to a one-week low against the dollar on Friday, dented by data showing the UK suffered the biggest contraction in economic growth since 1980 during the final quarter of last year. The figures showed the economy shrank by 1.6 percent from October to December. This was unexpectedly revised down from the previous 1.5 percent fall, while the annual rate of decline was also revised down to 2.0 percent.