October 27, 1986: News Headlines

President Reagan announces a "major victory" after signing an anti-drug bill.
3:31 | 10/27/15

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Transcript for October 27, 1986: News Headlines
From ABC this is world news tonight with Peter Jennings sitting in tonight Tom Taro. Good evening there's been another spy arrests this time not one of the diplomatic type in the longstanding feud between the US in the Soviet Union. Today's arrest came and Paolo alto California when FBI agents nabbed a former air force man. Suspected of trying to smuggle secret classified information on an air force reconnaissance program to the Soviet consulate in San Francisco. President Reagan's on the huge one point seven billion dollar drug bill today it's the single biggest government commitment ever to try to fight drugs. Here's White House correspondent Sam dollars. Right by a bipartisan congressional delegation before an audience of government officials and selected guests President Reagan used to single pen today to sign the new anti drug bill. And presented it to the person he said had begun the national anti drug crusade. His wife. Today marks a major victory. In our crusade against drugs a victory for safer neighborhoods of victory for the protection of the American Sam. Still on the subject of drugs and arbitrator today blocked professional footballer commissioner Pete Roosevelt's plan to randomly test NFL players for illegal drug use. The arbitrator ruled today that rules L does not have the power to implement such a plan without some discussion with the players union. There was an unprecedented gathering today in the Italian town of Assisi as representatives of a dozen world religions joined Pope John Paul for a day of prayer for world peace. ABC's David ensor was there. In all a 160 religious leaders joined the Pope in this medieval town where monks still follow the teachings of saint Francis of Assisi. Muslims prayed facing not gotten buddhists remember them on trip. An American Indians smoked a peace pipe. The Pope had asked all governments and warring factions to observe a cease fire a troops for 24 hour it's we must well too good. But Vatican officials say the primary goal was to focus attention on just how many conflicts there are in the world Friday's government or warring parties are truths. Join the guard or could. Death in tonight's money matters to the stock markets 3000 miles apart. On Wall Street the Dow Jones industrials gained about nine and a half points today trading laws moderate. Across the Atlantic trading picked up on the London Stock Exchange to the reason something the British called big buying. All in one day the British deregulated their stock market and brought it up to date with computers. Our economics editor Dan courts was there. The big story. More bang from an exploding balloon. Marred by trading delays caused by overloaded the stock exchange's new computer system. Still everyone knew history was being made I think it is historic occasion because it sticks suspect through live off of the century of before all of the little slower than dealing system will be just the voters. But came into being. Then the exchange was an old boys club of narrow specialist from high fixed commissions. Now deals are made by computer fees are negotiated a new exchange has been opened to an army of new competitors many of them American. What we are seeing which is terribly important is the globalization of financial system. And that is very healthy in the long run. And that's our report on world news tonight I'm Tom Gerald Peter Jennings will be back tomorrow. For all here at ABC news good night.

This transcript has been automatically generated and may not be 100% accurate.

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