Around the World's Markets: London

SHARES WERE in ragged retreat from the start of trading. Weak overseas stock markets, particularly New York, hit sentiment and Footsie ended 118.6 points down at 5,541.7; at one time it was off 144.8. Supporting shares were also lowered.

Cadbury Schweppes resisted the gloom, surging 54.5p to 989p following its soft drink deal with Coca-Cola, the US giant. Marks & Spencer fell 26p to a year's low of 392p after departing director Keith Oates, sold 100,000 shares at 419p a time.