But this view was dismissed by Western experts as "a fantasy"."Kargil was a tactical operation which spun out of control due to the violence of the Indian reaction," one defence analyst said. And because Pakistan was so glaringly the aggressor - and India was canny enough not to broaden the war - Pakistan's friends deserted her. Even Saudi Arabia, it is said, privately disapproved.For ordinary Pakistanis, stranded in a fog of disinformation, one fact came looming clearly after Mr Sharif's trip to the US: victory had been turned into a rout. "There is a great deal of disappointment and anger in the army," said a retired senior general "They feel badly let down. It is a loss of face for Pakistan, and a political disaster for the government.".

HI-TEC SPORTS, which makes outdoor and sports shoes, yesterday reported pounds 3m pre-tax losses for year end-April 1999 as a result of a slump in the American market. Last year the group made 34 per cent of sales in the US but accrued losses of pounds 2.04m. Analysts said spending in the US had shifted away from footwear in preference for household goods, computers and cars. Hi-Tec, which focuses on trainers, also provides black boots to police forces around the world under the Magnum brand. Paul Harrison, group chief executive, said that speculation that the group, languishing at 19p a share, may leave the stock market remained just that, owing to the poor state of its balance sheet.Pentland, also a maker of branded leisure goods, went private last week leaving Hi-Tec and Hay & Robertson the only quoted companies in the household goods sector producing leisure items."Pentland is in the happy position of making good profits We don't have earnings.

Without earnings you can't do anything," he said.Analysts also pointed out that any move to take the company private would depend on Frank van Wezel, chairman and founder, who owns 52.7 per cent of the company.. INVENSYS AND Storehouse towered above a lacklustre market yesterday amid growing talk of corporate action. The engineering giant formed from last November's merger of BTR and Siebe was hoisted 10.75p higher to 324.25p as buyers were attracted by the prospects of a hefty disposal. At the same time, the struggling clothes retailer shot up 6p to 132p amid late rumours of a bid from a UK or European rival. The newer whisper centred on Invensys. Dealers think that the engineer is close to announcing the pounds 1bn-plus sale of three non-core divisions to a US buyer and good turnover of nearly 8 million shares added credibility to the suggestion.The biggest disposal would involve the automotive division of the old BTR, which specialises in rubber seals for windscreens. Getting rid of the business would help Invensys to concentrate on high-technology automation and controls systems. It would also leave the group's boss Allen Yurko with a lot of cash to play with.Dealers' mouths were watering yesterday at the prospect of an earnings- enhancing acquisition or another share buyback.