FTSE moves to another high

BT jumped about 4% or 8.5p to 226p after coming to agreement with regulator Ofcom about the pricing of wholesale access to its network competitors, thus avoiding a regulated split in the company’s operations. Northern Rock gained 19p to 808.5p to lead the banking sector after Deutche Bank analysts raised their outlook for the banking and retail sectors. Barclays gained 10.5p to 563.5p and RBS added 30p to 1,750p. Retail associated shares gained on further speculation of interest rate cuts in the UK and elsewhere following information from central banks in the past few days. Asso...