Lebanon's parliament will delay electing a president next week, political sources said, allowing more time for rival pro- and anti-Syrian groups to agree on a compromise candidate.

This would be the second postponement in electing a president, a step seen as vital to resolving an 11-month-old crisis pitting the anti-Syrian ruling majority against the opposition, led by Hezbollah.

There are fears that if no president is elected before the term of pro-Syrian Emile Lahoud expires on Nov 23, Lebanon may end up with two rival governments and bloodshed. The political crisis is viewed as the worst since the 1975-1990 civil war.

The foreign ministers of France, Italy and Spain met several Lebanese leaders in a flurry of diplomacy intended to nudge them towards a resolution of the presidential deadlock.

"The session will not be held on Tuesday in order to give the factions more time to agree on a compromise candidate. This signals a positive outcome," a Lebanese political source said. Another source confirmed it.Reuters