Around the World's Markets: LONDON

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AFTER its run of heavy falls Footsie scored a record advance, surging 205.3 points to 4,854. Hopes the Monetary Policy Committee will bow to growing pressure and reduce interest rates and the weakening pound were the two main influences. Mid cap shares joined in the romp but once again the small cap contingent was out in the cold with its index falling 0.8 to 1,863.9, lowest since early 1995.

Engineers, reflecting sterling's display, led the charge with British Aerospace climbing 29.5p to 361.5p. Derek Pain, page 25