TalkTalk Group

Ticker TALK

Today's data summary

Market open
% change
+0.50%
Price Pence
99.95
Change
+0.50
As of 16:33 21 Feb 2019
Market cap. Pound sterling
1,145.12 million
As of 16:33 21 Feb 2019

Latest updates

London movers

Metro bank branch
Getty Images

There was some respite for Metro Bank on the stock market after heavy falls sparked by errors in the way it was accounting for some of lending.

The shares gained 10.4% - lifting off record lows reached on Thursday.

They ended around 1,200p - still well off the levels around 2,200p they had been trading at before the accounting issue emerged.

Talk Talk ended 4.7% lower after it told the stock market its full-year core income will fall short of analysts' expectations, and its own previous guidance, by between £10m and £15m.

TalkTalk warns profits will miss forecasts

TalkTalk logo
BBC

Broadband operator TalkTalk has said its full-year core income will fall short of analysts' expectations, and its own previous guidance, by between £10m and £15m.

Analysts had predicted core earnings of £259m but TalkTalk says that figure will now be between £245m and £250m.

A spokesman for TalkTalk said it is due to changes in how the firm reports revenue from connection fees as well as investment in its network.

In a trading update, the company said it had added 44,000 customers in its third quarter, taking the total to 4.2 million.

Good morning!

Welcome to Business Live and a very cold, snowy morning.

Today, we'll get the first indication of how the UK economy has performed so far in 2019 when IHS Markit releases its Purchasing Managers' Index (PMI) for manufacturing in January.

In the US, new data will be released on non-farm payrolls which is expected to show American firms created around 183,000 jobs last month from 312,000 in December.

TSB - home of last year's IT fiasco - and TalkTalk will provide their latest financials.

And the US earnings season continues with oil giants Chevron and ExxonMobil set to publish their results.

As always, we'd love to hear from you. Email Business Live at bizlivepage@bbc.co.uk

TalkTalk confirms Salford move

TalkTalk office
TalkTalk

TalkTalk has confirmed it is moving its headquarters to Salford.

Tristia Harrison, chief executive, said: "We will create a single main campus for the business in Salford which will reduce operational complexity and allow us to become a more efficient, focussed business, in turn supporting our long-term growth."

In a trading update it said operating profit for the past six months was £19m, compared to a £62m loss for the same period the previous year.

Royal Mail tops Ofcom's largest fines

Royal Mail's fine by Ofcom is the largest the watchdog has ever imposed. Here, if you are interested, are the top ten:

  1. Royal Mail fined £50m in August for breaking competition law
  2. BT fined £42m in March 2017 for reducing wholesale compensation
  3. ITV fined £5.6m in May 2008 for broadcast competitions and voting
  4. Vodafone fined £3.7m in October 2016 for billing failures
  5. TalkTalk and Tiscali fined £3m in August 2011 for billing failures
  6. EE fined £2.7m in January 2017 for billing failures
  7. GMTV fined £2m in September 2007 for broadcast competitions and voting
  8. Channel Four fined £1.5m in December 2007 for broadcast competitions and voting
  9. GCap Media fined £1.1m in June 2008 for broadcast competitions and voting
  10. EE fined £1m in July 2015 for complaints handling failures
Neil McArthur has helped regenerate Irlam in Greater Manchester
Neil McArthur has helped finance a sports centre and renovate Irlam's disused railway station.

Broadband firm talks up prospects

TalkTalk sign
PA

TalkTalk chief Tristia Harrison said the firm will add at least 150,000 new customers this year.

In a trading update for the three months until the end of June, the firm said revenue climbed 4.8% to £383m as churn - the percentage of customers leaving - remained low at 1.28%.

"After resetting the business last year, we are now a much simpler, lower-cost business," said Harrison.

TalkTalk shares jump

Investors in TalkTalk sent shares in the telecoms group 8.4% higher to 131.4p after it revealed that it had grown its base by 192,000 customers in its last financial year.

TalkTalk also announced that it had sold a chunk of its business customers to private rival The Daisy Group for £175m.

TalkTalk said that 80,000 small, medium and large direct business customers will be transferred to Daisy and will reduce its earnings before interest tax depreciation and amortisation by around £15m in the full year for 2019.