SHARES prices scaled fresh all time peaks on London's stock market yesterday in response to lower British inflation figures benefiting from sterling's upsurge and justifying the government's decision to freeze British interest rates, writes Sebastian Taylor, from London.

The FT SE 100 index closed 38.6 points higher at a record 4,197.5 with every indication that the 4,200 hurdle will shortly be taken with consummate ease.

Sterling remained remarkably firm in the face of unchanged British interest rates before easing slightly on news of the death of Tory MP, Mr lain Mills. At the close, though, the British currency was still 0.36 pfennigs higher at 2.6748 deutschmarks.