BRITISH department store chain and bid target Debenhams Plc said yesterday its sales growth was accelerating, outpacing bigger rivals and lending weight to calls from shareholders for a higher takeover price.

MARKS & Spencer may have suffered from the Irish downturn in the first quarter of 2003, British analysts speculated yesterday.

London shares lost their early momentum today despite another strong showing by mortgage bank Abbey National.

Opec oil ministers agreed today to cut crude oil output by one million barrels a day - 4% of their official target level.

Analysts say Marks & Spencer will reveal a drop in profits of up to 20%, when its annual results are published on Tuesday.

Leading shares in London closed just off their intra-day lows after another erratic performance, with weakness in financial and 'old economy' issues preying upon early gains in the technology, telecom and media sectors - still buoyed by strong pre-weekend gains on the Nasdaq - dealers said.