Around the World's Markets: London

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IN A see-saw session Footsie swung between a fall of 111.9 points and a 44.6-point gain before closing 19.7 higher at 5,880.9.

Fears of a Chinese devaluation, although denied, depressed sentiment. Bids enlivened events, with LucasVarity up 29.25p to 244p; after market close Federal-Mogul said it was mulling a 280p a share offer, but Lucas refused to negotiate. 3i, talking to Electra Investment Trust, gained 14p to 631p with Electra up 119p at 682.5p. Derek Pain, page 17