SHARES on the London Stock Exchange closed slightly higher yesterday, but off their highest levels for the day as Wall Street failed to recoup losses. The blue-chip Financial Times Stock Exchange 100-share index closed at 3,160.4, up 2.9 points. The narrower FT-30 index was at 2,456.1, unchanged. Volume was active with 645.2 million shares traded, but down from 709.4 million shares at the same time on Tuesday. Share prices gave up some of their earlier gains as the Dow Jones industrial average dropped 13 points to 3,782.95 in early trading. Great Southern Group leapt in anticipation of a counter-bid to a takeover launched Tuesday by Service Corp, the world's largest funeral company. William Low, the Scottish supermarket group, surged after Tesco raised the stakes in its takeover bid, prompting rival Sainsbury to withdraw from the takeover battle. British Airways continued to be in demand, boosted by an eight per cent rise in July passenger traffic. Container group Tiphook recovered from negative broker comment, boosted by US buying interest.