ITV licence news makes stock hottest on FTSE

Investors applauding cuts in the amount broadcasters pay for TV licences helped ITV to become the hottest stock in London today.

ITV shares bounced 5% or 5.75p to 121.75p after UK communications regulator Ofcom said the broadcaster should expect to pay less than £80m (€119.9m) this year – compared to £215m (€322m) in 2004.