Around the World's Markets: London

BLUE CHIPS led the way, with Footsie up 73.3 points to 5,630.4 in active trading. Supporting shares managed modest headway.

Publisher Reed International led the charge on rumours that Microsoft might buy a stake in its Dutch partner, Elsevier. Reed rose 34p to 476p; it was 716p earlier this year. New tension over Iraq helped oil shares: BP rose 21p to 876.5p, although stories circulated that the US Federal Trade Commission wants more concessions before accepting the merger with Amoco.

Derek Pain, page 23