Around the World's Markets: London

SHARES MADE modest progress with Footsie closing 32.5 points higher at 5,093.5. Turnover was again more than one billion shares. The mid-cap index made headway but once again small-cap shares were deep in the dumps with their index hitting a new low for the year.

Mobile phone shares weakened on worries the industry regulator plans to get tough. Vodafone led the retreat, falling 27p to 698p. At one time the shares were down 42p.

Derek Pain, page 21