Share price were higher midday, in line with the strong late showing on Wall Street on Friday, with Munich Re supported by a broker upgrade, while Bayer was lifted by reports that GlaxoSmithKline is eyeing its pharma division, dealers said.

London shares ended a six-session run of successive losses when it closed up today boosted by a recovery in telecom stocks, strength in oils - led by an update from Shell - and gains in the heavyweight banking sector after Royal Bank of Scotland issued an upbeat trading statement, dealers said.

US retail sales collapsed by a record 3.7% in November from the previous month, the US Commerce Department announced Thursday 14th December 2001.

Orange shares have continued to drop to about 12% below their issue price.

The FTSE-100 has ended marginally lower with an eagerly awaited speech from America's leading banker Alan Greenspan failing to provide a confidence boost.