Around the World's Markets: London

SHARES WERE in ragged retreat, with Footsie suffering one of its biggest falls - off 161.1 points at 5,861.2 - in busy trading.

Brazil's fragile economy and weakness in New York hit sentiment and stronger than expected gross domestic product figures also unsettled the market, creating new doubts about the likelihood of an interest rate cut next month. GRE, with Royal & Sun Alliance emerging as the most likely bidder, headed the Footsie leader board with a 14.75p gain to 369.25p. Derek Pain, page 19