Around the World's Markets: London

SHARES AGAIN failed to hold early gains. Footsie, at one time 51.5 points higher, ended 28.7 down at 5,474. Supporting shares also weakened.

The US interest rate cut prompted the gain but disappointing retail sales in October and talk of "challenging" Christmas trading unsettled sentiment. Safeway, the supermarket chain, is enjoying higher trading and gained 14.5p to 290.5p; Dixons, the electrical retailer, also ignored the gloom and put on 29p to 699p. Oils, however, gave ground. Derek Pain, page 25