FOR the third day in a row, the market pushed ahead with most leading stocks enjoying modest gains.

Predictions of where the FTSE will be trading in June was one of the main factors for the market gaining 11.4 at 4312.9 by the close.

Standing out in the more optimistic market conditions was property and shipping group P&Q which dived from the outset as the prospect of heavy fines sent investors running for cover.

Initially it was down 35p but recovered some ground to stand down 22p at 618 1/2p after issuing a robust statement.

The group, whose Princess Cruises is being sued by Florida state over alleged unfair and deceptive practices, said there was no prospect that it would be paying fines.

Retailers were generally in fashion in the wake of yesterday's results from Next which firmed 5p to 623 1/2p.

Marks & Spencer was again a beneficiary of Next's results and added 5 1/2p to 487p.

Annual figures from Country Casuals came in as expected, although analysts keen to know more details about a possible take over bid from the group's chief executive Mr Mark Bunce were disappointed. The shares moved up 2 1/2p to 115p.

An upbeat statement from building materials group Redland outweighed the impact of lower profits which fell last year to £259 million from £355 million it made in 1995.

Redland blamed a whole range of causes for the dive in profits, including appalling weather in Europe.