Around the World's Markets: London

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LEADING SHARES ended moderately higher but lost earlier intraday highs as Wall Street retreated from near record levels. The FTSE 100 ended 35.4 points or 0.57 per cent higher at 6,201.8.

Pharmaceutical stocks helped lead the advance with SmithKline Beecham lifted 2.9 per cent as Lehman Brothers added the drug stock to its global recommended list of preferred stocks. Dealers said it was high time the UK market responded to Wall Street's recent strength.

Market report, page 19