Around the World's Markets: London

THE CHANCELLOR'S pre-Budget statement made little impact, with the market more concerned about the downturn at Marks & Spencer. A sharper- than-expected fall in interim profits and a warning of poor year's figures pushed the shares down 45p to 404p. The M&S setback created worries about Boots' interims tomorrow: the shares fell 28p to 861p.

Footsie lost early gains, ending 21.6 points down at 5,503.9, but supporting indices remained firm.

Derek Pain, page 25