Retailer Next bucked the negative trend in London yesterday as stronger than expected results pleased investors.

Despite the FTSE 100 Index closing down 12.9 at 4545.6, Next saw its stock climb to the top of the risers board with a surge of nearly three per cent.

The group's 30 per cent leap in profits helped lift the stock 41p to 1558p.

Trading in New York did little to inspire the Footsie, with the Dow Jones Industrial Average slightly below its opening mark by closing time in London. Retail sales figures in the US were worse than expected.

Analysts said investors in London would be looking towards today's unemployment figures to give some direction.

Back in the Footsie, other blue-chip retailers in upbeat form included Boots, which climbed 2p to 686p.

The rise came after the company announced plans to ditch a range of health services, including laser eye correction and dentistry. While the move will cost it £55m, the company said it would improve trading profits. Dixons was also ahead, climbing 1p to 164p.

Elsewhere in London, mobile phone group Vodafone weighed heavily on the market after broker Smith Barney downgraded the stock, which fell three per cent, or 4p, to 129p.

Rival mm02 shrugged aside earlier losses to close unchanged at 94p.

Elsewhere, French Connection moved in the opposite direction to Next after reminding investors about just how tough retail conditions are.

With half-year like-for-like sales in the UK sharply lower, and little sign of an upturn last month, French Connection shares fell nearly 12 per cent, or 43p, to 329p.

There was also further woe for investors in Regent Inns after the owner of the Walkabout chain failed to post results because of accounting problems. Shares, which tumbled last week on the resignation of the company's chief executive and finance director, were down another 15 per cent, or 5p, to 31p.

Housebuilder Redrow was another faller, down 11p to 366p, despite a healthy set of full-year results and a strong forecast for the year ahead.

Retailer MFI saw its stock fall 3p to 104p after two directors left following supply chain problems that left the group struggling to deliver orders.

Aerospace and defence group Cobham was also in the red, down 74p to 1378p, despite saying the civil aviation market was picking up and posting a 7.8 per cent rise in first half pre-tax profits to £51.8m.

In contrast, advertising agency M&C Saatchi saw its stock climb 2p to 134p as half-year profits rose nearly nine per cent after it secured contracts with London's Olympic bid team and Thames Water