Around the World's Markets: London

Monday 14 June 1999 23:02 BST

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LEADING SHARES started the week on a losing note as fears of a US rate hike offset news of a mega-bid for supermarket group Asda.

The FTSE 100 closed 54.7 lower at 6,430.1, just off its session low of 6,430.1. Sentiment was undermined by growing worries that the US Federal Reserve will raise rates at the end of the month. Turnover totalled a huge 1.4bn boosted by the Wal-Mart bid for Asda. The smaller indices shrugged off the US fears to close modestly higher.

Market report, page 21

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