Graham Taylor's return to Molineux ended in satisfaction as his Watford side emerged with a point they thoroughly deserved.

Taylor was sacked as Wolves boss in November 1995 and had seen his Hornets team beaten 3-0 and 2-0 in the subsequent two clashes of the clubs.

But Wolves only rarely looked like continuing their dominance on this occasion as Watford defended resolutely and also threatened more than once to take all three points.

It was a difficult start for Wolves' new £700,000 signing Havard Flo, who was paired with leading scorer Robbie Keane at the head of Colin Lee's attack.

Flo brought some much-need aerial threat to Wolves' side but had little chance to shine in front of goal, where he was twice off target from half chances early in the second half.

Watford were the better side earlier on as they battled to take their impressive run to only one defeat in 15 League games.

Peter Kennedy tested Mike Stowell with a rasping drive early on and later fired through a crowded goal mouth and wide of the far post from a pull back by Micah Hyde.

For Wolves, midfielder Carl Robinson brought a diving save from Alec Chamberlain with a downward header to Michael Gilkes' centre and the keeper was relieved to see Robinson hook a close range volley over the bar from a chance brilliantly created by Keane, who also advanced to shoot wide from 25 yards.

Hyde demanded a flying save from Stowell after a misunderstanding between Keith Curle and Simon Osborn before Stowell gifted possession to Allan Smart before redeeming himself with a diving stop at the striker's feet.

In the second half, Keane tested Chamberlain from 25 yards and Gilkes blazed over from just outside the area while Dean Richards was denied at close quarters by the Watford keeper.

But Watford were always menacing on the counter-attack and Stowell blocked a deflected cross-shot by Nick Wright, saw Gifton Noel-Williams head wide and made a good late save to his left from Noel-Williams' low drive.

Teams

Wolverhampton: Stowell, Atkins, Muscat, Gomez (Corica 69), Richards, Curle, Gilkes, Robinson, Flo, Keane, Osborn.

Subs Not Used: Simpson, Connolly.

Booked: Muscat, Robinson.

Watford: Chamberlain, Bazeley, Kennedy, Page, Palmer, Iroha, Smart (Mooney 81), Hyde, Noel-Williams, Easton, Wright (Daley 86).

Subs Not Used: Bonnot.

Booked: Smart.

Att: 23,408

Ref: B Coddington (Sheffield).