Around the World's Markets: London

BLUE CHIPS spent most of the day in the red, although Footsie closed above its worst, down 43.7 points at 6,031.2. Supporting shares made modest headway.

Abbey National unsettled with disappointing figures and a 66 per cent rise in provisions. The shares were once down 108p; they closed 85p lower at 1,251p. Supermarkets were ruffled by price cutting, with J Sainsbury off 11.5p to 366.25p and Safeway 9.25p to 272.5p. Tesco, the price cutter, rose 1.5p to 175.5p.

Derek Pain, page 21