Around the World's Markets: London

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The Independent Online
SHARES closed sharply up, buoyed by a rally on Wall Street and takeover talk. The FTSE 100 index closed at 6,147.2, up 46 points, after touching a record 6,195.6 just after 2 pm.

Traders were encouraged by rumours of a bid by Deutsche Telekom for Cable & Wireless. Other telecoms stocks, including Orange and Telewest, rose in sympathy. Smaller stocks made modest gains, with the FT All-Share gaining 20 points to 2,784.7.

Market report, page 19