Aborted sale of Woolworths ends bad day in London

The high street retailer's shares lost a quarter of their value, dropping 13.5p to 41.5p, following an announcement that Apax Partners Worldwide LLP had abandoned plans for an £822m buy-out bid. Apax, Europe's largest buyout firm, said it would not make an offer because it could not confirm ``certain cash items'' in London-based Woolworths' accounts. BP, also dropped 1.1% or 700p to 541p after oil futures in New York yesterday fell to a seven-week low of $50.06 a barrel, extending declines after European stock markets closed. Crude has rebounded 63 cents to $50.85 today. BHP Billit...