The last week has been one of mixed performances on the FTSE 100 as it had a couple of strong sessions early on in the week, only to fall back to its starting levels by the close of play on Friday. The general retailing sector was disappointed that the Bank of England's Monetary Policy Committee decided to leave rates on hold on Thursday as it feels that the consumer slow down is affecting sales in the run-up to Christmas.

Shares in Bradford and Bingley had a volatile week after rumours circulated in the market that Banco Santander Central Hispano (SCH) - the Spanish bank that acquired Abbey a year ago - was mulling a possible bid for the company. However, the rumours were vague and much of the strength in the share price was attributed to sympathy with Northern Rock, which was upgraded to 'overweight' from 'equal-weight' by analysts at Lehman Brothers. After the rumours died away the shares fell back as hopes of an offer above the current levels abated.

At a recent meeting with the management of SCH, who had travelled from Spain especially to meet UK brokers, the team confirmed that it is on track with its three-year turnaround plan for Abbey.

Northumbrian Water, the water company often touted as a potential take over target for Kelda Group, the owner of Yorkshire Water, issued a positive set of results on Thursday and announced an increase in the dividend to 3.52p per share from 2.87p. The consensus amongst analysts before the results was for an increase to 3.03p. The company's managing director, John Cuthbert, reiterated its commitment to its regulated water business and also confirmed that the company does not intend on growing by acquisition. Following the steady rise in the share price over the last 6 months a bid is now less likely as both parties concentrate on making a strong start to the next five year period for which regulatory price limits have just been set.

Filtronic, the Shipley technology company, updated the stock market with its half yearly trading statement on Friday. Company chairman Professor David Rhodes reassured investors that its two divisions, Wireless Infrastructure and Integrated Products were performing in line with expectations. Filtronic, whose clients include British Aerospace and Lockheed Martin has recently closed its unprofitable Wireless Infrastruc-ture business in Australia.

H.C. Slingsby should not have any difficulties moving to its new premises in Baildon. It has been making trolleys for manually transporting heavy goods for more than 100 years. Contracts have been exchanged on the sale of its Preston Street site for £3.025m.