Around the World's Markets: London

GROWING TENSION over Iraq hit shares and at one time Footsie was down 74.4 points. It recovered lost ground, closing 27.8 lower at 5,449. Oil shares benefited from the possibility of renewed hostilities in the Gulf with Shell leading the charge with an 11.25p gain to 254.25p. Zeneca's plan to sell-off its specialities operations, which could fetch up to pounds 1bn, lifted the drug group 28p to 2,283p. British American Tobacco was puffed a further 6.5p higher to 523.5p on hopes of a US litigation settlement.

Derek Pain, page 25