The UK's FTSE 100 index closed slightly down on Friday as a sprinkling of profit-taking after recent strong gains pushed leading stocks lower.

Economic growth figures got the day off to a negative start as they showed the economy was performing rather better than expected, relieving some of the pressure on the Bank of England for a big rate drop.

The FTSE eventually closed down 12.8 points at 5217.1.

The banking sector led the downward FTSE trail as profit takers crept in on previous gains.

NatWest dropped 50p to 950p, Lloyds TSB slid down 26.5p to 775p, Barclays fell 13p to £12.50 and the Royal Bank of Scotland plummeted 19p to 781p.

Reports that the steel industry is in crisis due to over-capacity and plunging prices pushed British Steel down 6p to 101p.

Drugs groups received a boost from a positive broker note on Zeneca, which is due to make a trading statement next week.

While Zeneca jumped 83p to £22.55, rivals Glaxo Wellcome jumped 36p to £17.87 and SmithKline Beecham rose 31.5p to 726.5p.

Talk that the world's biggest retailer Wal-Mart may be on the prowl stirred up the excitement in the supermarket sector.

Asda gained 7.75p to 165.25p, Safeway gained 8p to 297p and J Sainsbury, which is reporting interims next week, jumped 14.5p to 564.5p.

Manchester United's shares fell 2.5p to 223.5p after newspaper reports that Peter Mandelson, Trade and Industry Secretary, would wave through its takeover by BSkyB, which gained a penny to 466p.