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SUZY in the CITY : Footsie news; emailsuzy@mirror.co.uk.



FREESERVE, Britain's biggest internet service provider, is to fall out of the FTSE 100 of Britain's biggest companies tonight, it emerged yesterday.

The group, in which Dixonsowns an 80 per cent stake, is relegated along with ports group P&Oto make way for two new companies formedfrom the demergers of P&O and BG gas group.

BG is splitting off its telecoms and gas pipline arm Lattice Groupand P&O is to separate from its Princess Cruise division.

While Freeserve shares jumped with the rest of the technology sector yesterday - up 6 to 166p - the stock is expected to tumble as big pension funds which are only required to hold blue chip stocks dump the shares. Overall, London's blue chips bounced back after nerve-racking losses earlier this week on both sides of the Atlantic.

The FTSE 100 index closed up 70.7 points to 6218.9, boosted by strong gains in telecoms and computing stocks inspired by better-than-expected results from New York- listed Microsoft.

Abbey National jumped 15p to 880p after the mortgage lender said it was selling and leasing back its branchpremises and business properties.

Railtrack rose 10.5p to 1017 as the City welcomed news that the group would not be left without a chief executive. Yesterday, Gerald Corbett's offer to resign was rejected by the board. Baltimore jumped 31 to 475p, buoyed by rumours of a deal with C&W.
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Title Annotation:Business
Author:Jagger, Suzy
Publication:The Mirror (London, England)
Geographic Code:4EUSP
Date:Oct 20, 2000
Words:233
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