Around the World's Markets: LONDON

HOPES OF a sharp interest rate reduction, with the market supporting the CBI's call for a half- point cut, and opening strength in New York helped Footsie to a 99.7 points gain to 5,331.2, highest for seven weeks.

Drinks group Allied Domecq, on results, frothed 49p higher to 520p and BICC, the cables and construction group which has fallen on hard times, jumped 8.5p to 48p on suggestions it was about to receive a bid or had agreed to sell its construction arm, Balfour Beatty.

Derek Pain, page 23