Britain's stock market, which has taken a battering on global inflation concerns, will be hoping for positive corporate results next week to lift the FTSE out of the doldrums.
On Friday, London's FTSE 100 index of leading shares ended the week at 5,657.40 points - sinking by 4.3 percent or 254.7 points from the previous week.
In line with other global stock markets, the FTSE was slammed this week by investor fears over rising inflation, prospects for interest rate increases and a weak US dollar.
On Wednesday, the FTSE experienced its biggest one-day plunge in more than three years - plummeting by 170.7 points or around 2.5 percent - and wiping out the lion's share of its 2006 gains.
Investors are concerned that high commodity prices will translate into higher inflation and prompt the US Federal Reserve and other central banks around the world to raise interest rates.
Rate hikes tend to depress economic activity and to depress company profits because they increase costs for consumers and businesses.
Just four weeks ago on April 21, the FTSE had closed at 6,132.7 points - the highest finish since February 15, 2001 - as record high oil and metal prices lit up the energy and mining sectors.
Since striking that five-year peak, the prestigious British shares index has sunk by 7.75 percent.
The FTSE had enjoyed a strong first half to the year, owing to robust earnings, take over news and soaring commodity prices.
Shares could now enter a period of consolidation before resumption of an upwards trend, according to Mike Lenhoff, analyst with London-based brokerage Brewin Dolphin.
"Our view is that a consolidation phase in which the markets trade sideways for a time is likely to follow," Lenhoff said.
"However, we believe that the fundamentals are supportive and that the upwards move by equity markets, which has been broadly in-line with earnings over the past few years, will resume."
Investors will look to a slew of corporate results data for direction next week.
Earnings reports are due from clothing-to-food company Marks and Spencer, luxury goods firm Burberry, retailer GUS and Kingfisher, which is the biggest home-improvements group in Europe.
Other companies posting results include music group EMI and Barclays, the third-biggest bank in Britain.
On the economics front, the second estimate of first-quarter British economic growth is expected on Thursday.
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