The chief executive of clothing retailer Matalan is to leave the company at the end of the year – with an extra 12 months' worth of pay – it was announced today.

Telecom stocks have bounced back helping the FTSE 100 Index enjoy a small rise in early trading.

The FTSE-100 Index failed to break through the 6,000 barrier today, as a strong start by blue-chip stocks petered out during the session.