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FTSE 100 touches 13-month high

The FTSE 100 hits its highest level since June last year before falling back, with banks and mining companies lifting the index.

Director of the High Pay Centre Stefan Stern on the 10% pay rise for FTSE 100 chief executives.

The bosses of Britain's biggest publicly listed companies now have an average pay packet of nearly 5.5m.

The FTSE 100 continues to rise following Thursday's UK interest rate cut, but RBS shares fall after it reports worse-than-expected losses.

The 100 share index makes a 1% upward swing on rate cut and the pound falls by around 1% against the dollar and the euro.

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