Around the World's Markets: London

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BRITISH BLUE chips ended a run of record high closes, finishing down as profit-taking led by banks and telecoms took its toll. The FTSE 100 closed down 1.4 per cent or 95.1 points at 6,597.2. Telecoms took 32 points off the overall index with BT down 4.3 per cent and Cable and Wireless dropping 9.6 per cent. A two-way pull among investors over Vodafone AirTouch's hostile bid for Mannesmann meant the mobile phone operator bucked the trend with a mere 0.1 per cent fall.

Market Report, page 20