Around the World's Markets: LONDON

Wednesday 02 September 1998 23:02 BST

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UK STOCKS rallied yesterday, as overnight gains on Wall Street and bargain-hunting domestic investors ended a four-day losing streak. But their gains halved in late afternoon when a nervous opening by the Dow stifled the buying momentum. The FTSE-100 closed up 66.7 points, or 1.29 per cent, at 5235.8 - failing to recoup Tuesday's 80-point loss. Medium caps rose 84.7 to 4712.0, and small caps 33.9 to 2081.3. IT stocks led the rally as analysts said that Tuesday's sell-off had been overdone and a rebound was due.

Market Report, page 21

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