Around the World's Markets: London

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The Independent Online
SHARES MOVED ahead strongly with Footsie reaching its highest for more than two months. The index rose 79.9 points to 5,438.4. At one stage it was 96.7 higher.

Hopes of lower interest rates next week, a generally favourable response to the Group of Seven meeting and exuberance in New York combined to encourage the market. Supporting shares were also strong with the mid cap index up 78.5 to 4,811.4. Hard-pressed chemical shares were in demand, mostly on hopes of takeover action.

Derek Pain, page 21

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