Around the World's Markets: London

THE GROWING conviction that the Monetary Policy Committee will feel obliged to make a significant base rate reduction tomorrow helped lift Footsie 39 points to 5,615.7; at one time it was 63.1 higher. Supporting indices made modest headway.

Takeover rumours and an investment presentation called for today combined to boost the Zeneca drugs group more than 200p at one time; the shares ended 100p up at 2,520p in heavy trading. point.

Derek Pain, page 21